Goldman Sachs, JP Morgan Chase and Morgan Stanley are likely to recommend that shareholders get an annual vote on executive-pay practices, The Wall Street Journal reports. Citigroup, Wells Fargo and Bank of America have already supported a yearly say-on-pay vote.
The Dodd-Frank financial-overhaul bill requires a say-on-pay vote at least every three years at most major U.S. companies. Companies, including Monsanto, Tyco International, Accenture, Toll Brothers and Qualcomm, have recommended adopting a three-year voting policy.
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