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.
