Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 10-day trial to continue exploring with full access.

Q&A: Farient Advisors’ John Trentacoste

Joe Mont | October 12, 2016

Among the many discussions and debates to emerge from revelations that Wells Fargo employees opened nearly 2.5 million unauthorized accounts and credit cards—a trespass that has already led to a $185 million settlement with the government—is when, how, and in what amount executive pay can be reclaimed.

Both the Sarbanes-Oxley Act and a pending rule from the Securities and Exchange Commission demand clawbacks connected to material financial restatements. Whether or not that threshold will be met, Wells Fargo’s board has already pulled back $41 million in unvested equity from CEO John Stumpf.

For insight into how the still-developing controversy may affect boards and their compensation decisions, we talked to John Trentacoste, a director with Farient Advisors, an executive compensation and performance consultancy.

Are there lessons to learn, and discussions worth having, regarding executive compensation and clawbacks in the aftermath of the Wells Fargo... To get the full story, subscribe now.