We don’t know how much Wall Street and other corporate CEOs make because the Securities and Exchange Commission (SEC) is three years behind in enforcing the law. The Dodd-Frank financial reform law requires publicly traded corporations to disclose how much their executives make — compared to their average worker.1
We have a right to know about excessive corporate salaries, and it’s the law, but the SEC is holding up the process. The big banks that brought down the whole economy, and corporations that are sitting on trillions of dollars instead of creating jobs owe the public this much and more.
It’s time for the corporate CEOs to come clean. Please join USAction and Daily Kos in urging the Securities & Exchange Commission to enforce the law on CEO salaries. Which should have happened three years ago!
The Securities & Exchange Commission needs to step up now and pass regulations implementing the law. But big corporations are putting pressure on the SEC–and Congress–to quietly kill this regulation. That’s why the SEC needs to hear from you, as they deliberate on this rule.2 Together we’ll be delivering this petition to the SEC in the next couple weeks, to increase public pressure and make sure this isn’t swept under the rug.
Enough is enough. This is basic public information we have the right to know, and will help prevent the next financial crisis. Join USAction and Daily Kos by signing our petition to the SEC, urging them to enforce Dodd-Frank’s provision on disclosing CEO salaries.
1 - “Corporate Governance Issues, Including Executive Compensation Disclosure and Related SRO Rules”, SEC website
2 - “Feds poised to act on CEO pay”, The Hill, 7/30/13