Aberdeen Asset Management, Legal & General Investment Management, Standard Life and Proxinvest of France are among the Europeans joining a large group of US investors to defend rules that will force the country's companies to disclose the pay ratio between their CEOs and average staff.
The 116 investors, largely US state pension funds, union funds and faith groups, are concerned that the market regulator, the Securities and Exchange Commission, appears likely to delay a clause in the Dodd-Frank package of financial reforms that enforces the disclosure for companies' 2017 financial years.
