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SEC Goes Beyond SOX with Clawback Proposal

Joe Mont | July 1, 2015

The Securities and Exchange Commission has proposed yet another controversial executive compensation rule required by the Dodd-Frank Acta “clawback” requirement demanding the recovery of erroneously awarded compensation from both current and former executives at listed companies.

For public companies, the amount clawed back would be what was received in excess of the corrected restatement of a company’s financials. There is no requirement that any misconduct occurred in connection with the problematic accounting that necessitated a restatement, nor is there...

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