Corporate Regulatory Report
A Summary of Current Regulatory Developments Affecting Publicly Listed Companies

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On August 11, 2006, the SEC published final rules to revise the requirements for disclosure of executive compensation in proxy statements, registration statements and other SEC filings. The new disclosure rules will apply to proxy statements for any fiscal year ended after December 15, 2006, which will be the proxy filed in early 2007 for most calendar year-end companies. The new rules were adopted substantially as proposed with the exception of the elimination of the so-called “Katie Couric” clause.