Bloomberg Law
Sept. 22, 2021, 9:07 PM

Wall Street Pay Clawback Rule to Get New Push at SEC (1)

Akayla Gardner
Ben Bain
Ben Bain
Bloomberg News

U.S. Securities and Exchange Commission Chair Gary Gensler said he is keen to finish a long-stalled requirement to clamp down on Wall Street bonuses when companies report incorrect financial information.

Gensler said he’s asked SEC staff to provide recommendations on a rule for clawing back executive pay and other parts of never-finished regulations that were mandatory under the Dodd-Frank Act. Specifically, Gensler said he wants to make sure that executives return any funds they are overpaid when a company publishes incorrect information in its financial statements.

“This is a simple concept that executives should not be paid based upon financial ...

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