SEC Resurrects Proposed Rules For Clawing Back Exec Pay

By Hailey Konnath (October 14, 2021, 9:17 PM EDT) -- The U.S. Securities and Exchange Commission on Thursday reopened the comment period on proposed rules requiring executives at publicly traded companies to pay back certain bonuses and other incentive-based compensation in the event of an accounting restatement, regardless of whether they were at fault.

The move comes six years after the agency first proposed the potential Dodd-Frank Act rule and amendments. The SEC said it plans to re-propose the clawback rules in 2022.

SEC Chair Gary Gensler said reviving the proposal is "an opportunity to strengthen the transparency and quality of corporate financial statements, as well as the accountability of corporate...

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