The Dodd-Frank 2010 provides new regulations to strengthen corporate governance. Which of the following is NOT a regulation under this Act?
A) At least once every three years, firms must provide shareholders the right to vote on the compensation of the firm's highest paid executives. The results of this vote are binding on the firm's board of directors.
B) All US Exchanges must require that listed firms have compensation committees made up exclusively of independent board members.
C) Large continuous shareholders may nominate candidates for the board of directors and the candidates must be included in the firm's proxy statement.
D) Firms must establish policies to claw back performance pay in the event that an accounting restatement indicates that such payments were not justified.
Correct Answer:
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