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As a result, the SEC's chief accountant will issue guidance on how to account for stock options.
In a separate hearing before the Senate Finance Committee, Deputy Attorney General Paul J. McNulty called the practice of backdating stock options "a brazen abuse of corporate power to artificially inflate the salaries of corporate wrongdoers at the expense of shareholders."
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.