How the Sausage Was Made: Corporate Counsel Interviews Robert Jackson Jr.
If you've read the 2,200 page Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law by President Obama last month, well, you're a better man than I.
But even those of us who haven't read it page by page and line by line probably know that it's kind of a big deal. And, as with all legislation, you might wonder, "how do they come up with this stuff?" Corporate Counsel has a partial answer for you in its interview with Robert Jackson, Jr.
Jackson is now preparing for his first semester as a professor at Columbia Law, but spent the last year or so advising the Treasury Department in connection with the reform legislation. Jackson, formerly a Wachtell associate, helped draft provisions in the law regarding "say on pay" and independence requirements for compensation committees. He discusses his contributions and opines that, while the law isn't perfect, it's a good start. Its success or failure hinges on the future actions of regulators, including the Securities and Exchange Commission, he says.
Scary note: according to the article, Jackson will solicit the help of students in his "Law, Economics, and Regulation of Executive Compensation" class in drafting implementing regulations for the SEC. Guess that makes sense since many of the SEC's actual lawyers are likely busy with other things.
Posted by Eric Lipman on August 19, 2010 at 11:17 AM | Permalink
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