Sarbanes-Oxley News & Developments
SEC comments on corporate board pay.America`s top watchdog deplores the unjustifiable explosion of executive compensation.
> > Executive salaries on Wall Street and in other sections of the US business world were widely regarded as out of control during the late 1990s boom and there is little evidence of restraint since then. William Donaldson, the Securities & Exchange Commission chairman, called the issue "one of the great as-yet-unsolved problems."
Mr Donaldson said that it is now harder for directors to fiddle company accounts in order to improve their appearance and noted "there is a lot more to management than simply earnings per share. Taking a regulatory risk is a big mistake. Taking a business risk is absolutely necessary."
Source: Hoover`s
Published:2003-08-05
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