The Meaninglessness of the SEC Pay Disclosure Rule

This article originally appeared in Regulation. Click here to read the full article.

By Ike Brannon and Sam Batkins

A Lawyer in Illinois recently billed a client for working 180 hours in a week. The client paid the bill, even though a week is only 168 hours long. The client wasn’t being foolish—he knew how many hours are in a week. Instead, he saw value in paying the lawyer for what he asked. After all, the lawyer had just produced a major, hard-fought victory.