Companies concerned that the U.S. Securities and Exchange Commission (SEC) in effect would mandate a specific governance model for working with executive compensation consultants breathed easier when that agency adopted enhanced proxy disclosure requirements in December. The SEC's new disclosure rules, effective for the 2010 proxy season, afford considerable flexibility for corporate boards and management to define pay governance and advisory processes that best meet each organization's unique needs.
Recent articles by Doug Friske, leader of Towers Watson's global Executive Compensation business, review the new SEC disclosure requirements, the various pay governance models available to companies under the rules and some of the key issues companies should consider in deciding how to structure the pay advisory process going forward.
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