{"id":353182,"date":"2021-10-14T22:34:35","date_gmt":"2021-10-14T19:34:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-votes-to-revive-2015-executive-compensation-clawback-rule\/"},"modified":"2021-10-14T22:34:35","modified_gmt":"2021-10-14T19:34:35","slug":"sec-votes-to-revive-2015-executive-compensation-clawback-rule","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-votes-to-revive-2015-executive-compensation-clawback-rule\/","title":{"rendered":"#SEC votes to revive 2015 executive compensation clawback rule"},"content":{"rendered":"<p>&#8220;<strong>#SEC votes to revive 2015 executive compensation clawback rule<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>The Securities and Exchange Commission on Thursday voted to revive a rule, left unfinished since 2015, that would expand the regulator\u2019s powers to clawback executives\u2019 compensation when a company had to restate its financials due to a compliance lapse.<\/p>\n<p>The\u00a0SEC\u00a0said it would seek a further round of public feedback on the rule, which was mandated by Congress following the 2007-2009 financial crisis, with a view to finalizing the rule likely next year.<\/p>\n<p>The\u00a0SEC\u00a0proposed a draft in 2015, but failed to finalize it. The effort to revive the rule is part of a broader push by the\u00a0SEC, now controlled by Democrats, to crack down on corporate malfeasance by boosting its tools for penalizing executives.<\/p>\n<p>Gary Gensler, the agency\u2019s chair, said in a statement that reopening the comment period provides the watchdog \u201can opportunity to strengthen the transparency and quality of corporate financial statements, as well as the accountability of corporate executives to their investors.\u201d<\/p>\n<p>If finalized, the measure would <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ly to public companies of all sizes and to any executive officer who performs policymaking decisions and who has received incentive compensation, including stock options, dramatically expanding the scope of the agency\u2019s existing clawback powers which were created in 2002.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/sec-eyes-executive-compensation-clawback2.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"A Wall Street sign over a One Way sign with a New York City skyscraper in the background\" class=\"wp-image-19805004\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/sec-eyes-executive-compensation-clawback2.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/sec-eyes-executive-compensation-clawback2.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/sec-eyes-executive-compensation-clawback2.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The effort to revive the rule is part of a broader push by the SEC to crack down on corporate malfeasance by boosting its tools for penalizing executives.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<p>The\u00a0SEC\u00a0could use the new power to recover compensation in excess of what the executive concerned should have received in the event a company has to restate its financials due to \u201cmaterial noncompliance\u201d with\u00a0securities laws.<\/p>\n<p>It would apply to compensation paid in the three years leading up to the restatement \u2013 \u201cregardless of whether the misstatement was due to fraud, errors, or any other factor.\u201d<\/p>\n<p>It would also direct U.S. stock exchanges to establish listing standards that would require each issuer to develop and implement such a policy.<\/p>\n<p>The\u00a0SEC\u2019s five commissioners unanimously voted to reopen the comment period on Thursday, and proposed a more stringent interpretation of the rule than the previous 2015 proposal, including by reconsidering the scope of \u201caccounting restatement\u201d and \u201creasonably should have concluded\u201d standard for triggering a look-back.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/10\/14\/sec-votes-to-revive-2015-executive-compensation-clawback-rule\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#SEC votes to revive 2015 executive compensation clawback rule&#8221; The Securities and Exchange Commission on Thursday voted to revive a rule, left unfinished since 2015, that would expand the regulator\u2019s powers to clawback executives\u2019 compensation when a company had to restate its financials due to a compliance lapse. The\u00a0SEC\u00a0said it would seek a further round&#8230;<\/p>\n","protected":false},"author":1,"featured_media":353183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/sec-eyes-executive-compensation-clawback.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[117506,71245,70934,72976],"class_list":["post-353182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-14-21","tag-executive-compensation","tag-regulation","tag-securities-and-exchange-commission"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/353182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=353182"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/353182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/353183"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=353182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=353182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=353182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}