Financial Institutions

On July 1, 2015, the Securities and Exchange Commission proposed rules that would require the national securities exchanges to establish standards requiring companies listed on such exchanges to adopt policies to “claw-back” from their executive officers incentive-based compensation that was erroneously awarded to such officers in the event of an accounting restatement.

Counsel Michael T. Campoli, a member of Pryor Cashman’s Corporate Group, has authored a legal update summarizing the SEC’s proposed rules. To read the update, entitled "SEC Digs Its Claws Into Executive Compensation”, please click here.