3.0.0 2866 2019-11-15T21:57:49Z 2019-11-15T21:57:49Z Senate S S 2008-04-15 110 ssfi00 Finance Committee Senate Standing Referred to 2008-04-15T22:22:48Z 2008-04-15 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2008-04-15 Introduced in Senate IntroReferral 10000 9 Library of Congress C001041 Sen. Clinton, Hillary Rodham [D-NY] HILLARY CLINTON D NY R N Commerce Accounting Administrative procedure Armed Forces and National Security Consultants Corporate mergers Defense contracts Executive compensation Finance and Financial Sector Financial statements Fringe benefits Golden parachutes Government Operations and Politics Government contractors Independent regulatory commissions Information disclosure (Securities law) Law Profit Securities and Exchange Commission Securities regulation Stockholders Tax-deferred compensation plans Taxation Commerce 00 2008-04-15 Introduced in Senate 2008-06-30T20:10:50Z Corporate Executive Compensation Accountability and Transparency Act - Amends the Internal Revenue Code to the limit annual aggregate amounts which may be deferred under nonqualified deferred compensation arrangements.

Amends the Sarbanes-Oxley Act of 2002 to extend from 12 to 36 months the look-back period for any bonuses, incentive-based or equity-based compensation, or profits realized from the sale of securities which must be reimbursed to a securities issuer by its chief executive officer and chief financial officer if the issuer is required to prepare an accounting restatement because of material noncompliance, as a result of misconduct, with any financial reporting requirement.

Requires the Securities Exchange and Commission (SEC) to promulgate regulations to ensure more effective enforcement of such forfeitures.

Requires such regulations to cite specified illicit accounting irregularities.

Amends the Securities Exchange Act of 1934 to require that any proxy, consent, or authorization for an annual (or special) meeting of shareholders provide for a separate nonbinding shareholder vote on executive compensation, especially executive compensation (golden parachute payments) based on or related to disposition of substantially all the assets of an issuer in an acquisition, merger, consolidation, sale, or other disposition.

Directs the SEC to promulgate regulations: (1) clarifying and strengthening requirements governing disclosure of compensation of consultants or advisors to a compensation committee; and (2) requiring each company subject to its jurisdiction to disclose the full grant date present value of equity instruments used as executive compensation awards in the Summary Compensation Table of the company.

Amends the Federal Property and Administrative Services Act of 1949 to require certain federal contractors to disclose their executive compensation structures. Requires Armed Forces defense procurement contracts also to disclose such structures.

]]> Corporate Executive Compensation Accountability and Transparency Act Short Titles as Introduced Corporate Executive Compensation Accountability and Transparency Act Display Title Corporate Executive Compensation Accountability and Transparency Act Official Title as Introduced A bill to require greater disclosure of senior corporate officer compensation, to empower shareholders and investors to protect themselves from fraud, to limit conflicts of interest in determining senior corporate officer compensation, to ensure integrity in Federal contracting, to close corporate tax loopholes utilized to subsidize senior corporate officer compensation, and for other purposes. Introduced in Senate 2008-04-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s2866is/xml/BILLS-110s2866is.xml 2008-04-15 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.