Katayun Jaffari,left, and Rikisha Collins,right, of Cozen O'Connor. Courtesy photos Introduction
On June 8, the U.S. Securities and Exchange Commission (SEC) reopened the comment period for the "clawback" rule proposed in July 2015 to strengthen the disclosures and standards for recovery of erroneously awarded compensation by publicly listed companies (proposed rule). According to SEC Chair Gary Gensler, the proposed rule provides companies with an "opportunity to strengthen the transparency and quality of corporate financial statements as well as the accountability of corporate executives to their investors." This article will provide a brief summary of the proposed rule and other SEC guidance with respect to executive compensation clawbacks.SEC Revisits Proposed Rule on Recovery of Erroneously Awarded Exec Compensation
The SEC re-opens the comment period for proposed rule on listing standards for recovery of erroneously awarded compensation with a bonus post-script on pay for performance final rules.
September 12, 2022 at 11:48 AM
7 minute read
Katayun Jaffari,left, and Rikisha Collins,right, of Cozen O'Connor. Courtesy photos
Introduction
On June 8, the U.S. Securities and Exchange Commission (SEC) reopened the comment period for the "clawback" rule proposed in July 2015 to strengthen the disclosures and standards for recovery of erroneously awarded compensation by publicly listed companies (proposed rule). According to SEC Chair Gary Gensler, the proposed rule provides companies with an "opportunity to strengthen the transparency and quality of corporate financial statements as well as the accountability of corporate executives to their investors." This article will provide a brief summary of the proposed rule and other SEC guidance with respect to executive compensation clawbacks.
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