An advisory committee has recommended that the U.S. Securities and Exchange Commission (SEC) expand the amount of information that covered companies must publicly disclose about their human capital. The 2010 Dodd-Frank financial reform law created the committee to make nonbinding recommendations to the SEC on regulatory priorities. It suggested that the SEC require covered employers to disclose information on their workforce headcount, turnover, cost, and demographics. Dodd-Frank requires the SEC to publicly disclose what action, if any, it intends to take with respect to the recommendation. SEC Chair Gary Gensler has repeatedly stated his desire to expand the agency’s human capital disclosure requirements, so it would not be surprising if a proposed rule emerges in the near future.
Members of the Center for Workplace Compliance (CWC), our affiliated nonprofit membership association, can read more here.