Joe Biden is asking Congress to make it easier for regulators to fine and ban executives of failed banks and claw back compensation.
March 21, 2023Regulators are considering allowing shareholders to vote on executive compensation, introducing clawback provisions, and granting new bank approvals, among other measures.
March 6, 2023The penalties ranged from several thousand dollars for some staff to more than USD 1 million for others, cut from past bonuses or future pay.
January 27, 2023Removing the cap will increase the proportion of compensation that can be set by tools such as deferral, payments in instruments, and risk adjustment.
December 27, 2022The rule will require issuers to develop and implement a clawback policy for compensation that was erroneously awarded based on incorrect financial statements.
October 30, 2022Fund houses are required to defer a portion of executive bonus payments. Senior staff are directed to invest their bonuses in financial products issued by their companies.
June 14, 2022NBFCs should constitute remuneration committees and use malus or clawback arrangements to account for possible misconduct or poor financial performance.
May 8, 2022The use of balanced scorecards based on KPIs in determining compensation is "critical" to promoting a sound risk culture in a firm, the FSB says.
November 5, 2021The guidance has been updated to align with the Financial Accountability Regime and provide additional examples of better practices to help entities transition smoothly.
October 21, 2021The prudential standard on remuneration will come into effect from 1 January 2023 initially for the largest and most complex ADIs.
August 30, 2021