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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.