The Securities and Exchange Commission has considered and decided: those institutions taking TARP money must let shareholders vote on executive compensation. Some 400 companies are be covered by a provision in the American Recovery and Reinvestment Act of 2009 that amends the Emergency Economic Stabilization Act of 2008 to require TARP recipients to “permit a separate shareholder vote to approve the compensation of executives, as disclosed pursuant to the compensation disclosure rules” of the SEC filed with the commission after February 17.
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