SEC Extends Comment Period on Proposed Regulations on Independent Compensation Committees

The SEC has extended until May 19, 2011 the comment period for the proposed regulations implementing the Dodd-Frank requirement that company compensation committees be fully independent. The SEC acted partially on the request of the Chamber of Commerce and the SEC also believes that providing the public additional time to consider the matters addressed by the release and to submit responses to the release would benefit the Commission in its consideration of final rules. The original comment period ended on April 29.