The European Parliament, which according to the co decision procedure, must vote the text of directive, until the Council of European Ministers doing it, examined the draft of the Directive on Basel III standards on May 14, 2012. On prudential standards, he planned to leave the States free to adopt higher minimum requirements. In addition, it imposed that the bonus paid to the CEO didn't attain a higher price than their fixed compensation.
The pay affected by the first hundred American companies to their best paid corporate officersrepresent more than 2 billion, notably because they include stock options. For the moment, the provision of the Dodd-Frank Act requiring companies to publish the ratio between the remuneration of the officers and the average remuneration of employees, whose the Securities Exchange Commission (SEC) must control effectiveness, is not currently observed.
It was expected that the CEO of the Citigroup Bank receive for 2011 a salary of 15 million, a part immediately, and the other part deferred, and approximately 155 times the average earnings of employees, and while the Citigroup stock price fell from 45% in 2011. Consulting firms advised shareholders to express an unfavourable opinion to this draft resolution, presented in the General Assembly by the Board of Directors of the Bank under the Dodd-Frank Act. Two Consulting firms advised to deliver a negative vote, believing that compensation was disproportionate. Shareholders followed this advice.This is the second time that a such disapproval is expressed.