Finance

Warren pushes feds to disclose CEO pay

Sen. Elizabeth Warren (D-Mass.) joined thirteen progressive senators in urging regulators to disclose Wall Street CEO’s salaries.

{mosads}The lawmakers want the Securities and Exchange Commission (SEC) to implement a rule from the 2010 Dodd-Frank Wall Street reform law that requires public companies to disclose how much executives make in comparison with rank-and-file workers. Advocates of the rule have accused the agency of dragging its feet.

“While some opponents may prefer not to disclose this information, Congress already enacted and the President already signed the requirement into law more than four years ago,” the lawmakers wrote in their letter to SEC Chairwoman Mary Jo White. 

“All that remains is for the implementing rules to be finalized, as the statute requires.”

In addition to Warren, Sens. Bernie Sanders (I-Vt.), Al Franken (D-Minn.), Dick Durbin (D-Ill.) and Robert Menendez (D-N.J.), are among the lawmakers who signed the letter.

Critics of the rule argue that the rule unfairly forces businesses into disclosing nonpublic information. But supporters say it will help low-level workers negotiate fair salaries and provide more transparency on executive compensation.

Tags Al Franken Bernie Sanders Dick Durbin Elizabeth Warren Robert Menendez
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