Towers Perrin gets House subpoena

Consulting firm Towers Perrin said Monday that it was reviewing a subpoena issued by congressional investigators who were looking into potential conflicts of interest for firms that advise big U.S. companies on executive pay.

The Democratic-run House Oversight and Government Reform Committee subpoenaed Towers Perrin on Friday, saying the firm had balked at turning over information sought by the panel.

The panel is investigating whether major U.S. consulting firms that provide pay advice to a company’s board of directors also perform other services for company managers that may compromise their independence.

Towers Perrin said it would “respond to the subpoena consistent with our legal obligations.”