Which 2009 law requires publicly-traded covered institutions to permit a shareholder vote to approve compensation for top executives?

Question

Quizplus · Accepted Answer

D) In 2008, the Emergency Economic Stabilization Act (EESA) created the Troubled Assets Relief Program (TARP) and included certain executive compensation provisions that were to apply to any financial institution that received financial assistance under TARP. In February of 2009, the American Recovery and Reinvestment Act (ARRA) amended the executive compensation provisions that apply to institutions that would receive or had already received TARP funds, so-called "covered institutions." According to ARRA, any publicly-traded covered institution had to permit, in any proxy or consent for any shareholder meeting, a nonbinding shareholder vote to approve the compensation of the institution's executives.

Which 2009 Law Requires Publicly-Traded Covered Institutions to Permit a Shareholder