Regulatory Alerts2015-07-14 | 2015-16613Added
Listing Standards for Recovery of Erroneously Awarded Compensation
The Securities and Exchange Commission proposes new rules to implement Section 954 of the Dodd-Frank Act, requiring national securities exchanges to establish listing standards for the recovery of erroneously awarded incentive-based compensation. These standards mandate that listed issuers develop and disclose policies for clawing back excess compensation from current and former executive officers following accounting restatements caused by material noncompliance with financial reporting requirements. The proposal also includes amendments to Regulation S-K and other forms to ensure consistent disclosure of these recovery policies by both domestic and foreign private issuers.
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