Transparency Time for Compensation Consultants’ Own Compensation

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Fury over excessive executive compensation is beating up on the pay consultants too. As part of its new rules on proxy disclosure and solicitation enhancements, the Securities and Exchange Commission has decreed that a company whose board retains a compensation consultant to advise its comp committee on executive pay must disclose all fees paid to this consultant if the same firm provides the company with other services, such as retirement-plan counseling.

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