Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 required the Securities and Exchange Commission (SEC) to issue rules mandating the recovery of incentive-based compensation in the case of a financial restatement (“clawbacks”).
The SEC issued proposed clawback rules in 2015. These rules were met with broad criticism. They then basically sat untouched until late 2021, when the SEC reopened them for discussion. READ MORE