Executive pay continues to be the subject of regulatory and shareholder action and intense scrutiny in the business and popular press. As of the date of this program, the SEC will have finalized its pay ratio rule while the remaining rules governing clawbacks, hedging and pay for performance remain in proposal form." In April, the joint federal agencies re-proposed their rules under Section 956 of Dodd-Frank regulating incentive pay at financial institutions. Further, shareholder advisers and institutional investors are regularly updating their voting guidelines and are under some increasing pressure to harmonize and rationalize their positions. This program takes a critical look at the effectiveness of all this regulation and focuses on what makes efforts to reshape executive pay so difficult. The program also offers a framework for pay regulation and disclosure that might be better aligned with the interests of long-term investors. Panelists will unpack ongoing rulemaking under Dodd-Frank, analyze say-on-pay trends and debate the efficacy of the current framework on the creation of long-term value for investors.
The format will be two one-hour panels. The first will focus on recent rulemaking. The second will assess the voting guidelines of institutional shareholders and shareholder advisers. Panelists will be distinguished legal practitioners, compensation consultants and shareholder advisers.