Firm Memoranda

Recent Securities Law Developments on: SEC's Proposed Changes to Disclosure Requirements Concerning Executive Compensation

Date: 02/28/06

On January 27, 2006, the Securities and Exchange Commission ("SEC" or "Commission") released new proposed rules on executive compensation and related party transaction disclosure. The proposed rules would affect disclosure in proxy statements, annual reports and registration statements, and would modify the current requirements of Form 8-K concerning compensation arrangements.