Morgan Stanley Sharpens Clawback Policy Ahead Of Dodd-Frank

Law360, New York (April 5, 2012, 7:45 PM EDT) -- Morgan Stanley on Thursday revealed that it had expanded its clawback provisions for executive compensation to include any conduct “detrimental to the company,” inserting the changes before regulators complete Dodd-Frank Act rules for recovering executives' pay.

In a proxy statement filed with the U.S. Securities and Exchange Commission, the New York-based investment bank said that it had expanded its policies for recovering pay from executives to any conduct that is unethical or causes the company to restate earnings up or down.

“We expanded our 'clawback' provisions...
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