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CALIFORNIA CORPORATE & SECURITIES LAW

Man Bites Dog: SEC Staff Overrules Congress

Yesterday, Broc Romanek reported in his blog that the Securities and Exchange Commission staff has posted several new Compliance and Disclosure Interpretations with respect to Say-on-Pay.  In particular, I noted that the staff disagrees with Congress. New Section 14A(a)(2) of the Securities Exchange Act of 1934 as added by Section 951 of the Dodd-Frank Act provides (emphasis added): FREQUENCY OF…

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