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Published on Apr 20, 2007
The House debates a motion to recommit on the Shareholder Vote on Executive Compensation Act, which was introduced by Financial Services Chairman Barney Frank in March. The bill, introduced by Rep. Barney Frank (D-MA), will require that public companies ensure that shareholders have an annual nonbinding vote on their company's executive compensation plans. The Republican motion was an effort to derail the bill at the last moment, and Chairman Frank denounced the effort.