As the Dodd-Frank financial reforms continue to languish in a state of half-implementation in the United States, Wall Street firms are starting to take action themselves to better discipline the wrong-doers in their midst.
Hedge fund titan Steven A. Cohen, whose $15 billion firm has been under fire for alleged insider trading, took an unprecedented step when he said on Thursday SAC Capital Advisors would begin clawing back compensation from employees who are found...
American International Group , the insurer whose government bailout was marked by controversy over executive salaries, on Wednesday said its board adopted a clawback policy to recover compensation in case of mistakes or wrongdoing.
Lazard paid its CEO $8.5 million in 2012, down 5% from the prior year, and set new pay clawback and other compensation-related policies for its top executive officers.
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Often, after discovering that they were invested in a Ponzi scheme, victims are left in a state of shock wondering how they became embroiled in such a travesty. Many reflect, concluding in hindsight that the investment was simply ?too good to be...
Former partners from defunct Dewey & LeBoeuf have agreed to give back at least $50 million in past earnings in exchange for immunity from lawsuits relating to the law firm's demise.
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