After continued pressure from you and tens of thousands of people across the country, the U.S. Securities and Exchange Commission (SEC) could finally be voting on implementing a rule requiring big companies to reveal their CEO-to-worker pay ratios as early as August.
It’s about time. Five years ago this week, this rule was passed as part of the Dodd–Frank Wall Street reform bill. But because of lobbying by CEOs, the SEC has sat on forcing corporations to disclose their CEO-to-worker pay ratios.
CEOs and their lobbyists are going to run a full-court press to stop the SEC from approving this commonsense rule—so we need to tell the SEC to do the right thing.
The SEC is feeling the heat. 'In June, Sen. Elizabeth Warren (D-Mass.) sent a letter to SEC Chairperson Mary Jo White expressing her disappointment in the commission’s failure to advance the CEO-to-worker pay ratio rule and other measures that would increase corporate transparency and hold big companies accountable for illegal activities. And it’s not just Warren who is putting the SEC on notice. We’re going to be delivering the petition that you and more than 165,000 other people signed telling the SEC to implement this rule.
This policy has been five years in the making. We’re really close to finally forcing the SEC to implement it and taking a step in the right direction to shine a light on CEO pay practices that contribute to income inequality.