Trinita C. Robinson
Technical Director, HFMA
On January 27, the Securities and Exchange Commission (SEC) posted its 370-page proposed rule amending some of the disclosure requirements for executive and director compensation, related party transactions, director independence and other corporate governance matters, and security ownership of officers and directors. There is a 60-day comment period once the rules have been published in the Federal Register.
So, what does this mean for not-for-profit organizations? Is there any chance this proposed rule would have any impact on what we do as not-for-profit organizations? Should we even read it? I say yes--because not-for-profit organizations could find themselves under similar requirements at some point. In addition, the proposed rule includes quite a few proposed amendments to the original rule. Click here for an article summarizing the major proposed changes to the current requirements.
