All clawbacks articles

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    McDonald’s claws back $105M severance paid to disgraced former CEO


    McDonald’s has agreed to drop its lawsuit against disgraced former CEO Steve Easterbrook, who will return more than $105 million in equity and cash he received upon the termination of his employment in 2019.

  • Blog post

    Senators want Equifax answers on clawbacks, disclosures


    Sen. Elizabeth Warren (D-Mass.) and fellow senators have expanded their investigation into the recent Equifax breach, the company's response, and the possibility of executive pay clawbacks.

  • Blog post

    Wells Fargo scandal prompts senators to focus on clawbacks, KPMG


    Still responding to the Wells Fargo scandal, Senate Democrats are urging tougher clawback rules and grilling KPMG over its “failure to identify illegal activity when it audited the bank’s financial statements.” Joe Mont reports.

  • Article

    Q&A: Farient Advisors’ John Trentacoste


    Joe Mont talks with John Trentacoste, a director at Farient Advisors, on how Wells Fargo’s woes may influence boards’ compensation decisions.

  • Article

    The many compliance lessons of Wells Fargo


    What should compliance officers take away from Wells Fargo employees secretly opening unauthorized deposit and credit card accounts for their customers? Joe Mont looks at the important lessons.

  • Blog post

    SEC’s White offers insight on 2016 priorities


    In a wide-ranging conversation at Northwestern University, SEC Chairman Mary Jo White detailed her thoughts on a variety of topics, offering fresh perspective on agency priorities for the months ahead, including the ongoing disclosure effectiveness review, a new accredited investor definition, and the “clawback” rule for executive compensation.

  • Article

    Disclosure Update: How Companies Are Tackling Comp Rules


    The Dodd-Frank Act brims with new disclosure demands regarding executive compensation. Slowly but surely—emphasis on slowly—the SEC has been issuing rules on clawbacks, pay for performance, and the dreaded pay ratio rule. This week, we look at those three measures and what companies have done so far to comply with ...

  • Blog post

    Clawbacks, Other Reforms Drive Better Pay Disclosure


    A new study from Deloitte finds that FTSE 100 companies have dramatically improved their disclosures around executive pay in recent years, probably in no small part due to new clawback provisions and other governance requirements adopted lately. (New regulations on pay disclosure were rolled out last year, such as a ...

  • Article

    All the Questions Confronting Clawback Policy


    The SEC has proposed a new rule that publicly traded companies adopt a clawback policy to recoup incentive-based compensation from executives that later turns out to be based on faulty financial statements. How hard can that be? Well, pretty hard, many compensation experts say. Inside, we have the run-down on ...

  • Blog post

    SEC Goes Beyond SOX with Clawback Proposal


    The SEC has proposed another controversial executive compensation rule per the Dodd-Frank Act: a clawback requirement for erroneously awarded compensation, that applies to the CEO, CFO, and numerous other corporate executive officers. If adopted as proposed, the rule will go well beyond previous clawback requirements under Sarbanes-Oxley. More inside.

  • Blog post

    U.K. Watchdogs Issue New Rules on Clawbacks for Bankers


    The Financial Conduct Authority and the Bank of England have finished banker rules that could have bonuses clawed back even after a decade of being awarded, if the firm comes under regulatory scrutiny for “potential material failures,” the FCA said. Senior managers aren’t off the hook either: They face a ...

  • Article

    When Revenue Recognition and Executive Pay Collide


    Image: The impending new accounting standard for revenue recognition already has corporate accountants buzzing; now compensation committees should brace for impact. The standard redefines a host of terms under the heading of “revenue,” and that will affect pay plans. “To the extent executive compensation is triggered by company performance … ...

  • Blog post

    Prudential Financial Adopts New Clawback Policy


    Prudential Financial this week adopted a new clawback policy covering all incentive-based compensation made to its executive officers in the form of stock options and other equity awards. "The policy, which marks an expansion of Prudential’s previous clawback policy, was adopted by the Board as part of its annual review ...

  • Blog post

    Study: Companies Taking Own Action on Clawbacks


    Even ahead of any new clawback rules mandated by Congress or the SEC, companies are moving ahead themselves to add clawback provisions to executive compensation arrangements—and are swallowing some added accounting and financial reporting complexity to do so. PwC recently analyzed 100 large public companies and found 40 percent of ...