Ken Alc News Today

<p><span>Today, the Commission will consider whether to adopt amendments to Rule 10b5-1, as well as new required corporate disclosures related to executive officers’ and directors’ trading. I am pleased to support these new requirements because, if adopted, they will help close potential gaps in our insider trading regime.</span></p>

<p><span>Today, the Commission voted to adopt a rule requiring certain public companies to disclose information regarding their executives’ compensation and how such compensation relates to the company’s financial performance. I was pleased to support this rule—so-called “pay versus performance”—because it will strengthen the transparency and quality of executive compensation disclosure to investors.</span></p>

<p><span>Today, the Commission is reopening the comment period for a proposed rule for corporate disclosure of “pay versus performance.” I support this proposed rule because, if adopted, it would strengthen the transparency and quality of executive compensation disclosure.</span></p>

<p><span>Today, the Securities and Exchange Commission adopted final amendments to its rules implementing the Holding Foreign Companies Accountable Act of 2020 (HFCAA). Today’s amendments finalize the interim final rules that the Commission adopted in March, which had addressed the submission and disclosure requirements of the HFCAA, with two modifications. First, they clarify how the requirements apply to variable interest entities. Second, they include requirements to tag...

<p><span>On Thursday, the Securities and Exchange Commission unanimously approved a rule adopted by the Public Company Accounting Oversight Board (PCAOB) to fulfill its obligations under the Holding Foreign Companies Accountable Act of 2020 (HFCAA).</span></p>

<p><span>I support today’s action to re-open comment on the Dodd-Frank Act rule regarding clawbacks of erroneously awarded incentive-based compensation. I believe we have an opportunity to strengthen the transparency and quality of corporate financial statements as well as the accountability of corporate executives to their investors.</span></p>
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