SEC Proposes Executive Compensation Clawback
Tuesday, September 1, 2015
The Wyrick Robbins Capital Markets Practice Group has published a Client Alert (see link above) providing a summary of a proposed rule regarding executive compensation recently issued by the Securities and Exchange Commission. The proposal would, in effect, require any company listed on a national securities exchange to have a clawback policy to recover any incentive-based compensation paid to current and former executive officers during a specified three-year period in the event of a company's material non-compliance with financial reporting required under the federal securities laws.
The Wyrick Robbins Capital Markets Practice Group will issue another Client Alert upon the adoption of the final rule by the SEC.