Wall Street Journal Summary – US regulators mulling bid to limit bonuses for Wall Street execs, WSJ reports
Over the Paywall – Good Info News Wire
Key Facts
- U.S. banking regulators are planning to reintroduce a proposal requiring big banks to defer executive compensation and claw back more bonuses if losses increase, as reported by the Wall Street Journal.
- Six agencies are involved in crafting the plan, including the Federal Deposit Insurance Corp (FDIC) and the Office of the Comptroller of the Currency (OCC). The Federal Reserve is not involved.
- The measure may be introduced within the next few days.
According to a report from the Wall Street Journal, US banking regulators are looking to revive a proposal aimed at big banks. The proposal requires these institutions to defer executive compensation and claw back greater portions of their bonuses should they face significant losses. This initiative is being devised by six regulatory agencies, including the Federal Deposit Insurance Corp (FDIC) and the Office of the Comptroller of the Currency (OCC). It’s important to note that the Federal Reserve is not participating in the development of this proposal. This news comes amid ongoing debates over executive pay on Wall Street, with many critics advocating for more stringent clawback provisions and restrictions. The proposal is expected to be presented in the coming days.
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