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    SEC Publishes Interpretive Guidance on Pay Ratio Disclosure

    September 27, 2017

    SEC published interpretive guidance to assist registrants in preparation of their pay ratio disclosures required by Item 402(u) of Regulation S-K. Item 402(u) requires a registrant to disclose the median of the annual total compensation of all its employees, excluding its principal executive officer. The effective date is September 27, 2017.

    In 2015, SEC adopted a rule to implement the pay ratio disclosure requirement mandated by Section 953(b) of the Dodd-Frank Act. Under the final rule, registrants must provide pay ratio disclosure for the first fiscal year beginning on or after January 01, 2017, which means that registrants will begin making pay ratio disclosures in early 2018. In light of the approaching compliance date and concerns raised about the implementation of the disclosure requirement, this release provides additional guidance to assist registrants in their compliance efforts. In addition, SEC staff is publishing guidance about the use of statistical sampling to assist registrants in determining their median employee for purposes of the pay ratio disclosure.

     

    Related Link: SEC Guidance on Pay Ratio Disclosure (PDF)

    Effective Date: September 27, 2017

    Keywords: Americas, US, Pay Ratio Disclosure, Dodd Frank Act, Guidance, SEC

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