“U.S. corporations will need to disclose how the paychecks of their chief executive officers compare with those of their workers under a new proposal released [in September] by a sharply divided U.S. Securities and Exchange Commission.” [Reuters] The measure, pushed by labor advocates, was prescribed as part of the maximalist-regulation Dodd-Frank law, but opponents say the SEC majority is requiring needlessly costly compliance methods: “Proponents have acknowledged the sole objective of the pay ratio is to shame CEOs, but the shame from this rule should not be put on CEOS- it should be put on the five of us,” said Republican commissioner Michael Piwowar. “Shame on us for putting special interests ahead of investors.” [Towers Watson/MarketWatch] Because of the high expected cost of compliance, “we are almost certain to see quite a few companies paying more than they actually pay their CEO to figure out how much more their CEO makes than their median worker. If this rule was really being implemented for the benefit of the shareholders, then Congress could have let each company’s shareholders opt in or opt out of this disclosure regime. Clearly, the people pushing this ratio had no interest in giving actual shareholders a veto over this racket.” [Marc Hodak] More: Prof. Bainbridge, Keith Paul Bishop, Michael Greve, Jeffrey Miron on FBN. The agency is taking public comments through December 2.