Following the failures of Silicon Valley Bank and Signature Bank earlier this month, the Biden administration called on Congress to expand the FDIC’s authority to claw back compensation from executives at failed banks, bar bank executives at failed banks from holding jobs in the banking industry and bring fines against executives of failed banks.
The Securities and Exchange Commission today adopted rules requiring public companies to recover incentive-based executive compensation if that pay was awarded in error because of an inaccurate financial statement.
As the Department of Labor contemplates a new overtime rulemaking, four senior Republican members of Congress last week urged DOL to “conduct robust public engagement,” including meetings with industry stakeholders, before any proposed rule relating to overtime pay requirements.
The Securities and Exchange Commission today reopened a comment period on a proposed rule requiring new disclosures concerning companies’ executive compensation.
As the Department of Labor contemplates a new overtime rulemaking, the American Bankers Association joined 109 other trade groups in a letter urging the DOL to meet with industry groups prior to proposing a new rule.
What bank boards need to know about their role in overseeing benefit programs that retain key bank employees.
The Securities and Exchange Commission today said it would reopen the comment period on a previously issued proposal to implement Section 954 of the Dodd-Frank Act, which relates to listing standards for the recovery or “clawback” of erroneously awarded compensation.
The COVID-19 emergency won’t last forever. Neglecting talent retention and recruitment while you dig out leaves a bank without key personnel to thrive in the future.
NFP announced today that it has completed the integration of Equias Alliance and received ABA’s endorsement for its bank-owned life insurance administration, portfolio and risk assessment review offerings and executive benefits programs.
The Department of Labor issued a final rule clarifying which types of compensation must be included in determining an employee’s “regular rate” of pay.