Sunday, 24 November 2013

Corporate cut & paste: US style

As most people will be aware, the SEC is currently consulting on a rule that would require US corporations to disclose internal pay ratios. (This is something that the UK government thought was not worth pursuing remember.)

As you might expect, the US business lobby are no fans of this rule. And, just like I found in responses to UK consultations on exec pay and other issues, companies are sticking generic responses in to the SEC consultation. Hat-tip to Change to Win Investment Group, who spotted this last week. Compare this response to the SEC and this one.

I thought I'd see if I could find a source, so took a slice of text out of one of the responses and searched around for similar docs. It turns out that the National Investor Relations Institute produced a template letter, here.

US lobbyists seem less ashamed of this though, as the template is freely available on the NIRI site. In contrast, companies have sought to 'personalise' their responses.

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