Dodd-Frank Corporate Governance Final Rules: Compensation Committee and Adviser Independence

On June 20, 2012, the U.S. Securities and Exchange Commission released its final rules (the “Final Rules”) implementing Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 952 contains a number of provisions generally relating to the independence of compensation committees and their advisers. The attached memorandum summarizes the Final Rules and provides next steps for affected companies to consider.