Goldman, Morgan Stanley Set Clawback Policy Standard

Law360, New York (February 7, 2012, 8:11 PM EST) -- After Goldman Sachs Group Inc. and Morgan Stanley responded to demands for greater executive accountability in their clawback policies, New York City Comptroller John C. Liu said Tuesday that the two had set the standard for clawback policies in the banking industry.

“We appreciate the dialogue we’ve had on this issue and will continue to call for them to disclose the amount of clawbacks if forthcoming regulation does not require it,” Liu said.

The two banking giants indicated earlier this month and in late January that they would...
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