I'm curious how (if?) the radio gasbags will attack this regulation.
FDIC backs pay clawback in bank liquidations
By Dave Clarke
WASHINGTON | Wed Jul 6, 2011 11:44am EDT
WASHINGTON (Reuters) - U.S. regulators will be able to snatch back up to two years of Wall Street executives' pay if they are found responsible for the collapse of a major financial firm, under a rule approved on Wednesday.
The FDIC's final rule provided some relief by clarifying "negligence" as the standard. The agency was careful to point out that it was not using the more narrow standard of "gross negligence."
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