New SEC Action: Bank CEOs, CFOs Vulnerable to Compensation Clawback for Acts of Others


Print | No Comments | Share

Published in September 9, 2009

Performance-based compensation of bank CEOs and CFOs at public companies has been left vulnerable to “clawback” forfeiture under a new position staked out by the SEC. The agency has demanded that a CEO surrender $4.1 million because of staff misconduct he did not know about that led to a restatement of financials.

Link to full article.

Post a Comment