Restating Earnings May Mean Executive-Pay Clawbacks
SEC proposal would require companies that restate earnings due to accounting errors to reclaim a portion of bonuses to executives including chief accounting officers and VPs of finance.
By Dave Michaels, Bloomberg|July 02, 2015 at 01:13 AM|Originally published on Treasuryandrisk.Com
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U.S. companies forced to correct accounting failures would have to reclaim a portion of bonuses awarded to corporate bosses under a rule proposed Wednesday by the Securities and Exchange Commission (SEC).
The acceleration of technological innovation is propelling the benefit carousel faster each year, making it challenging for many brokers and employers to keep up with changes and new products in the market.