By Cydney Posner
Here is a link to the press release (with a fact sheet) and rule proposal release.
Note that the proposal will be subject to a 60-day public comment period once it is published in the Federal Register. Most important, a "company would be required to report the pay ratio with respect to compensation for its first fiscal year commencing on or after the effective date of the final rule." So, for calendar year companies, it would not be applicable for the 2014 proxy season and most likely would not be required until the 2016 proxy season reporting on 2015 compensation.