Archive for October 23rd, 2009

Compensation for ‘thousands” of brokerage employees could receive federal scrutiny

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Published in Investment News October 23, 2009by Sara Hansard

Large brokerage firms that are part of bank holding companies could be forced to review their compensation arrangements for brokers and advisers as a result of a new pay proposal introduced Thursday by the Federal Reserve Board.

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Anger Over Wall Street Pay Puts Spotlight On Directors

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Published on CNBC October 23, 2009 by Reuters

Outrage over the lavish compensation that Wall Street has awarded itself for doing a crummy job is likely to increase the focus and burdens on the people who set and monitor how pay is doled out: corporate directors.
The financial crisis has prompted demands by shareholders and politicians to rein in out-of-control pay, especially when it spurs bankers and traders to take too much risk.

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Who cares if Wall Street ‘talent’ leaves?

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Published in CNN Money October 23, 2009 by Colin Barr

There’s no need to fear a Wall Street brain drain — despite the crackdown on pay by Washington.
On Thursday, White House pay czar Kenneth Feinberg outlined compensation restrictions at seven firms that got special bailouts, and the Federal Reserve proposed to review pay practices at 28 unnamed giant banks.

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Fed Hits Banks With Sweeping Pay Limits

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Published in The Wall Street Journal October 23, 2009by Aaron Lucchetti, David Enrich and Joann S. Lublin
In a one-two punch at the pay culture of banks and Wall Street firms blamed for the financial crisis, the U.S. government announced plans to aggressively regulate compensation at thousands of lenders and impose steep pay cuts at seven companies that received billions in federal aid.

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