Goldman, JP Morgan To Back Say-On-Pay

Goldman Sachs,JP Morgan ChaseandMorgan Stanleyare likely to recommend that shareholders get an annual vote on executive-pay practices,The Wall Street Journalreports.Citigroup,Wells FargoandBank of Americahave 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, includingMonsanto,Tyco International,Accenture,Toll BrothersandQualcomm, have recommended adopting a three-year voting policy.

Click here for the story fromThe Wall Street Journal.