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10.11 - 15:31
Bad bonuses in SEC crosshairs ahead of vote on clawback rule
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fnlondon.comPublic companies whose financial statements contain errors would be forced to recoup their executives’ bonuses under a rule the Securities and Exchange Commission is set to consider on 26 October.
The SEC’s five commissioners are set to vote on the rule in a meeting that starts at 10am ET. Also on the docket are a final rule that would require mutual funds to provide their shareholders with simpler disclosures, and a proposal to limit investment advisers’ ability to outsource certain functions to third-party service providers.
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