Not Just Financial Reform: Dodd-Frank's Executive Compensation and Governance Requirements for All Public Companies

Today, July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The Dodd-Frank Act’s scope goes far beyond financial industry regulation and will affect executive compensation and corporate governance at all U.S. public companies, starting with say on pay votes mandated for annual meetings held after January 21, 2011. The attached memorandum summarizes the executive compensation and corporate governance provisions of the Dodd-Frank Act -- what’s required, what’s not clear and what companies should start to consider now.