SEC Proposes Overhaul of Executive Compensation and Related Party Transaction Rules

On January 27, 2006, the SEC issued the much anticipated proposed revisions to its rules governing disclosure of executive compensation, director compensation, related party transactions, director independence and related corporate governance matters and current reporting regarding compensation arrangements. The proposed rules are intended to provide investors with a clearer and more complete picture of a company’s executive compensation arrangements. Consistent with the SEC’s recent pronouncements in this area, the SEC continues to confirm that a company must disclose all elements of compensation.

The Firm will be hosting a Teleconference addressing these issues on Friday, February 17, 2006 at 1:00 p.m. CDT.