The U.S. Securities and Exchange Commission approved a ruleWednesday requiring companies to reveal the pay gap between thechief executive officer and their typical worker, handing a newweapon to groups protesting rising income inequality.
The commission voted 3 to 2 to mandate the disclosure. Theagency had delayed progress on the rule for years, with SEC ChairMary Jo White facing attacks from unions and Democratic lawmakersin recent months for failing to get it done.
The disclosure is required under the 2010 Dodd-Frank Act, whichhasn't stopped it from splintering the five-member commission.Republican commissioners and business groups argue it's meant toembarrass CEOs and won't be useful to investors.
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