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WASHINGTON (AP) - The nation's top securities regulator says he is generally satisfied that new disclosure rules are giving investors a clearer picture of how much public companies are paying top executives and provide useful insight into the reasoning underlying compensation awards.
"Nothing was more complicated than the description of executive compensation," Christopher Cox, chairman of the Securities and Exchange Commission, said in an interview last week. Before the SEC revised the rules last year, he said, the implicit instruction was: "It's all in here somewhere — go find it."
"The difference in 2007 is extraordinary," said Cox. "The new executive compensation disclosure marks a sea change."
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