Sharply divided SEC adopts controversial CEO pay ratio rule

Wed Aug 5, 2015 1:33pm EDT
 
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By Sarah N. Lynch

WASHINGTON (Reuters) - A sharply divided U.S. Securities and Exchange Commission adopted new rules on Wednesday that will require certain companies to publish a ratio of how their chief executives' pay squares with the median pay of their workers.

Both Republican commissioners voted against the rule, saying it is nothing more than a politically charged rule that will do nothing for investors. The SEC's two Democrats praised the measure, saying it will provide valuable information to the marketplace. SEC Chair Mary Jo White, an independent, cast the tie-breaking vote.

(Reporting by Sarah N. Lynch; Editing by Bill Trott)