News Brief: SEC okays new rules on top exec pay

Under rules unanimously adopted, the Securities and Exchange Commission will require public companies to provide more information about the pay given to top executives. Companies will now have to report a single number for executive pay, and explain pay programs in narrative form on a new statement, "Compensation Discussion and Analysis." Annual filings will also have to display the total yearly compensation for a company's chief executive officers, chief financial officers and its next three highest-paid executives. All of the disclosures will have to be written in plain English.

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