New Reporting Requirements for Executive Compensation and First-Tier Subcontract Awards

On July 8, 2010, the FAR Councils issued an interim rule requiring that, subject to several exceptions and limitations, contractors report executive compensation, first-tier subcontract awards, and executive compensation information for first-tier subcontractors. The interim rule applies to all businesses, regardless of size or ownership, and is specifically made applicable to contracts for commercial items and to contracts at or below the simplified acquisition threshold.