Monday, January 30, 2006

SEC Rule Revising Sarbanes-Oxley

The Securities and Exchange Commission ("SEC") on January 27, 2006, posted a proposed rule revising the rules governing disclosure by public companies of executive compensation and director compensation, as well as addressing director independence, related party transactions, and other corporate governance matters. Although I have not read all 370 pages of the proposed rule I suspect that nonprofit health care providers should examime the proposed rule and the inpact it might have on their individual facilities. Nationwide and in West Virginia there has been an increase in public scrutiny over the executive compensation levels of many executives of nonprofit health care systems and facilities.

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