US disclosure law a “nightmare” say lawyers

| 31/08/2010

(FT.Com): Companies in the United States are facing a “logistical nightmare” from a new rule forcing them to disclose the ratio between their boss’ and their staff’s pay packets, lawyers have warned.  The mandatory disclosure will provide ammunition for activists seeking to target perceived examples of excessive pay and perks. The law taps into public anger at the increasing disparity between the faltering incomes of middle America and the largely recession-proof multimillion-dollar remuneration of the typical corporate chief. Last year, S&P 500 chief executives, received median pay packages of $7.5m, according to executive compensation research firm Equilar. By comparison, official statistics show the average private sector employee was paid just over $40,000.

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