Law360, New York (March 15, 2011, 6:18 PM ET) -- The Federal Deposit Insurance Corp. on Tuesday set out guidelines for bank regulators to claw back money from top executives at failed banks as part of a proposed rule clarifying wind-down procedures for so-called too-big-to-fail financial institutions.
According to the proposed rule, regulators will be charged with determining whether the top leadership of a failed bank worked “with the requisite degree of skill and care” in the days before a failure. If the regulators determine that the actions by the executives — including the CEO, chairman...
FDIC Sets Up Clawback Rules For Failed Bank Execs
To view the full article, take a free trial now.
