Clawback

RECENT NEWS
Reuters  Feb 5  Comment 
Banks and regulators hope that threats to "claw back" pay if trades later blow up will rein in risk taking on Wall Street, but bankers themselves and compensation experts are not so sure.
Wall Street Journal  Jan 27  Comment 
Banks and securities firms are toughening rules that give them power to seize pay from employees whose bets or other behavior blows up later. But they still might not be tough enough.
BusinessWeek  Jan 14  Comment 
The tool for recouping bonuses is showing up in more executive employment contracts, but it remains untested
BusinessWeek  Jan 11  Comment 
Many U.S. executives opening their 2009 bonus envelopes will find something extra this year: more conditions on whether they can keep their money or stock.
Bloomberg  Jan 8  Comment 
(Update1) Many U.S. executives opening their 2009 bonus envelopes will find something extra this year: more conditions on whether they can keep their money or stock.
MarketWatch  Dec 9  Comment 
The company embraces a “clawback” policy in which an executive whose misconduct leads to a restatement of financial results will have to give up a portion of a bonus or performance-based pay.
BusinessWeek  Nov 18  Comment 
Without accusing Ian McCarthy of fraud, the Securities & Exchange Commission cites Sarbanes-Oxley to recover money from the CEO of Beazer Homes USA
Bloomberg  Nov 16  Comment 
(Update4) Beazer Homes USA Inc., the homebuilder that last year settled U.S. allegations that it misstated earnings, said its chief executive officer may be sued by regulators to recover incentive pay he collected.
New York Times  Nov 11  Comment 
Commerzbank will introduce a claw-back option to its bonus system next year as the banking industry aims to stop the short-term risk-taking that helped bring about the financial crisis.
Insurance Journal  Nov 4  Comment 
The U.S. pay czar said Monday that he will determine "in the near future'' how he will use his power to claw back pay at companies that have taken bailout money but is not currently in ...



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