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News Summary: SEC proposes CEO pay disclosure

The Associated Press

MIND THE GAP: Public companies would have to publicly report the difference in pay between their CEOs and ordinary employees under a proposal advanced by federal regulators.

ON THE OTHER HAND: Opponents say it will be costly and time consuming for companies to gather the pay information on their employees and could also put U.S. companies at a disadvantage relative to their foreign rivals.

WHAT'S NEXT: The Securities and Exchange Commission opened its proposal — which passed 3-2 — to public comment for 60 days. It could be formally adopted sometime after that.