(B) the amount of compensation of the employee of the taxpayer receiving the highest amount of compensation during such taxable year, (C) the median compensation of all employees of the taxpayer during such taxable year, (D) the number of employees of the taxpayer who are receiving excessive compensation during such taxable year, and (E) the amount of compensation of each employee described in subparagraph (D) during such taxable year. Such report shall be filed at such time and in such manner as the Secretary may require. (j) Fines relating to executive compensation No deduction shall be allowed under this chapter for any fine paid to the Securities and Exchange Commission under section 16(h)(4) of the Securities Exchange Act of 1934. . (b) Effective date The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act. 3. Amendment to the Securities Exchange Act of 1934 (a) In general Section 16 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78p ) is amended by adding at the end the following: (h) Shareholder approval of executive compensation (1) Calculation of compensation For purposes of this subsection, the term compensation includes wages, salary, fees, commissions, fringe benefits, deferred compensation, retirement contributions, options, bonuses, property, and any other form of remuneration that the Commission, in consultation with the Secretary of the Treasury, determines is appropriate. (2) Limitation (A) In general Except as provided in subparagraph (B), the compensation paid to an employee of an issuer in any taxable year may not exceed the lesser of— (i) $1,000,000