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Read it at Bloomberg Business
The Securities and Exchange Commission approved a rule Wednesday that requires companies to disclose the pay gap between typical wage earners and their CEOs. The agency’s approval had been long delayed since it became required by the 2010 Dodd-Frank Act and passed the SEC by a narrow 3-2 margin. “While there is no doubt that this information comes with a cost, the final rule recommended by the staff provides companies with substantial flexibility in determining the pay ratio while remaining true to the statutory requirements,” SEC Chairwoman Mary Jo White said.