The Pushback on Executive Compensation
By MATTHEW BOYLE

(FORTUNE Magazine) – CEO pay is still soaring. But SEC chair Christopher Cox (left) and others are pushing for accountability. Here's the skinny.

1  What does the SEC plan add? Trans-parency. The rules Cox proposed (which are expected to go into effect next year) would make companies disclose once-hidden info about pay and perks. Already Goldman Sachs has filed a detailed breakdown of CEO Hank Paulson's $38.8 million 2005 comp package, which includes $154,000 for a car and driver.

2  Is there fallout over Carly's golden parachute? Yes. Four pension funds sued Hewlett-Packard's board over former CEO Fiorina's severance (worth up to $42 million). HP reduced the multiple used to calculate future packages last summer, and firms like Chevron have followed suit. Wells Fargo recently canceled CEO Dick Kovacevich's severance payout.

3  Are we entering the age of the "claw back"? Maybe. There were 1,195 earnings restatements in 2005, up from 613 in 2004, according to shareholder advisory firm Glass Lewis. Sarbanes-Oxley gives companies the power to "claw back" bonuses granted to top execs during periods of dodgy accounting. With Fannie Mae facing a $10.8 billion restatement soon, deposed CEO Franklin Raines could be targeted.

4  So are outrageous perks a thing of the past? No. Shocking examples abound on financial blog footnoted.org. Take Morgan Stanley, for example, which will pay $1.9 million to provide ousted CEO Phil Purcell with a secretary--for the rest of his life.

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.