Exclusive outtakes from industry leaders
Audio – House’s Frank plans shareholder rights bill
It’s time for legislation to help U.S. shareholders who are fed up with fat executive pay and retirement benefits, says the chairman of the House Financial Services Committee. Barney Frank, a Massachusetts Democrat, says he hopes to have a bill passed by mid-2007 that would give shareholders a bigger say in how their companies are run and a chance to vote on “clawback” provisions if a CEO misses performance targets. Frank described what he has in mind while speaking at the Reuters Regulation Summit.