On July 1, the Securities and Exchange Commission proposed rules directing national securities exchanges and associations to establish listing standards requiring companies to adopt policies that require executive officers to pay back incentive-based compensation that they were awarded erroneously. Recovery would be required without regard to fault. The proposed rules would also require disclosure of listed companies' recovery policies, and their actions under those policies. The comment period for the proposed rules will be 60 days after publication in the Federal Register. Release.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.