UPDATE: A decade after the crisis, the SEC still leaves executive compensation rules unwritten
Almost everyone got on board the reform train after the 2008 financial crisis. However, big business, and in particular the biggest banks, slammed the brakes on reforms that threatened to separate senior executives from their money that critics said incentivized excessive risk taking before the crisis.
Almost all of the mandatory provisions of the law had been finalized by the Securities and Exchange Commission by the end of 2015, five years after the passage of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010.
The executive compensation-related provisions of the Dodd-Frank Act were “designed to address shareholder rights and executive compensation practices” according to the text of the law.
But ten years after the failure of Lehman Brothers, and eight years after the passage of the reform law, 5 of 12 mandatory executive compensation rules remain to be approved by the Securities and Exchange Commission. Read Full Article - MarketWatch, September 14, 2018