Towers Perrin reviewing US congressional subpoena
“Although other firms have made significant efforts to provide complete responses to the committee’s inquiry, Towers Perrin has provided virtually none of the responsive information,” Waxman said in a letter sent to the firm on Friday.
“I regret that we reached this impasse and that the committee had to resort to compulsory process to obtain information on whether Towers Perrin’s advice to corporate boards on executive compensation is tainted by conflicts of interest,” Waxman said in the letter.
Five other firms that complied with the committee’s request for information were Hewitt Associates Inc. (HEW.N: Quote, Profile , Research), Pearl Meyer & Partners, Watson Wyatt Worldwide Inc. (WW.N: Quote, Profile , Research), Frederick Cook & Co., and Mercer Human Resources Consulting, a unit of Marsh & McLennan Cos. Inc. (MMC.N: Quote, Profile , Research).
I don’t have much to add, except that Waxman is doing a great job.