U.S. Rep Frank to hold hearing on exec compensation

WASHINGTON (Reuters) - U.S. House Financial Services Committee Chairman Barney Frank will hold a hearing on June 11 to discuss ways to reform compensation for Wall Street executives, a committee spokesman said on Thursday.

The hearing "will look at ways to reduce risks that Wall Street executives are willing to take at the expense of shareholders, employees and ultimately the taxpayers," committee spokesman Steven Adamske said.

The June 11 hearing will be the first of four the committee plans to hold to debate restructuring of the regulation of the U.S. financial services industry, Adamske said.

(Reporting by John Poirier)