May 9, 2016
Excessive Incentive Pay: SEC Approves 488-Page Proposing Release
– Broc Romanek, CompensationStandards.com
On Friday, the SEC became the last of the six financial regulators to approve the 488-page joint agency proposal to prohibit incentive-based compensation that may encourage inappropriate risks by financial institutions under Section 956 of Dodd-Frank. The other agencies are the FDIC, Federal Housing Finance Agency, Federal Reserve Board of Governors, National Credit Union Administration and Office of the Comptroller of the Currency. Here’s the memos I have been posting about the proposal in our “Financial Firms” Practice Area…