SEC Proposes Limiting Pay Disclosures to CEOs, CFOs

The SEC has proposed a major overhaul of executive compensation disclosures, generally limiting required reporting to the CEO and CFO rather than five executives. The proposal would also raise the threshold for reporting executive perks, such as personal travel and security, from $10,000 to $150,000 per executive. The agency says the changes are intended to reduce compliance burdens while focusing disclosures on senior leaders with the greatest responsibility; the amendments are proposals and are not yet in effect.