The Securities and Exchange Commission's Dodd-Frank Act rulemaking frenzy is kicking into overdrive with two open meetings to propose or adopt new rules scheduled in the days ahead.

Asset-backed securities, say-on-pay votes, the “accredited investor” definition and reporting obligations for advisers to private funds are all on the SEC's rulemaking agenda during the next week.

During a Jan. 20 Open Meeting, the SEC will consider whether to adopt rules relating to the use of representations and warranties in the market for asset-backed securities to implement Section 943 of the Dodd-Frank Act, as well as rules to implement Section 945 of the Act, which requires an issuer of ABS to perform a review of the assets underlying the ABS and to disclose information about that review.

During a Jan. 25 Open Meeting, the SEC will consider whether to adopt rules to implement Section 951, which requires shareholder advisory votes on executive compensation, known as say-on-pay, and on the frequency of those votes, as well as shareholder advisory votes to approve golden parachute agreements in connection with mergers and acquisitions.

Under the proposals, say-on-pay votes are required at least once every three years beginning with the first annual shareholders' meeting taking place on or after Jan. 21, 2011. Companies must also give shareholders a nonbinding “frequency” vote on how often they want to cast a say-on-pay vote—every one, two, or three years—at least once every six years. Shareholders advisory votes would also be required for golden parachute arrangements in connection with merger transactions, along with additional disclosure of those arrangements in merger proxy statements.

At the same meeting, the Commission will also consider whether to propose rule amendments to implement Section 413(a) regarding the definition of “accredited investor,” and whether to propose a rule under the Advisers Act establishing reporting obligations for advisers to private funds, as required by Sections 404 and 406 of the Dodd-Frank Act.