Pax Ellevate Petitions for Gender Pay Disclosures
An investment advisory firm has asked the Securities and Exchange Commission (“SEC”) to make public companies disclose the pay ratio between male and female employees. In its petition to the SEC, Pax Ellevate Management LLC said gender pay disclosures provide more value for investors and are a useful indicator of well-managed, honest companies. Pax Ellevate also argued that the gender pay ratio falls under the “materiality” definition in Staff Accounting Bulletin No. 99, Materiality, and that the SEC could offer guidance to companies on voluntarily reporting pay equity to investors. The current gender wage gap shows that women earn $0.79. Read More.