Sheldon Whitehouse: “This amendment would ask the Securities and Exchange Commission to set standards for independence for compensation…”

“This amendment would ask the Securities and Exchange Commission to set standards for independence for compensation consultants, so that when, consistent with this legislation, the compensation committee of a board has to evaluate which compensation consultant to hire, they get an independent seal of approval from the SEC, and they can know they are doing the right thing; and, of course, we can assure that we have independent compensation consultants and not people who get paid in order to encourage higher salaries for CEOs in our country.”