SEC calls for new pay disclosure rules

NEW YORK, Jan. 17 (UPI) -- The Securities and Exchange Commission Tuesday unanimously approved sweeping executive pay and perk disclosure rules.

After a 60-day comment period, SEC commissioners will vote a second and final time on the proposals, designed to give investors more and better information about the companies they own, MarketWatch said.

"It is about wage clarity, not wage controls," said new SEC Chairman Christopher Cox.

The SEC wants companies to present a table showing total pay and a summary of all compensation. That table also would include dollar-value listings for stock-based awards including options. Companies would be forced to use the same valuation method for options.