• Public Company Impact of Financial Reform Measures
  • June 23, 2010 | Authors: Aaron S. Berke; Adam K. Brandt; Michael A. Cline; Elizabeth Turrell Farrar; James H. Gross
  • Law Firms: Vorys, Sater, Seymour and Pease LLP - Akron Office ; Vorys, Sater, Seymour and Pease LLP - Columbus Office
  • On May 20, 2010, the United States Senate passed the Restoring American Financial Stability Act of 2010, sponsored by Senator Christopher Dodd (the “Dodd Bill”), one of the most comprehensive and broadsweeping pieces of financial reform legislation since the Great Depression. While much of the Dodd Bill focuses on the financial sector, there are significant measures which impact publicly-traded companies. The new requirements primarily affect the areas of corporate governance and executive compensation, with companies facing additional proxy disclosure obligations and restrictions on shareholder voting.