Top executives at the biggest Wall Street firms would have to wait four years to collect most of their bonus pay and could be forced to return the money in the event of wrongdoing, under proposed rules unveiled by federal regulators.How about clawbacks for government workers?
The rules, which were released Thursday by the National Credit Union Administration for public comment, say senior executives at firms worth more than $250 billion must wait to collect 60 percent of their bonus pay.
Executives at firms valued at $50 billion to $250 billion would have to wait three years to receive half their bonuses.
The rules cover banks, investment advisers and credit unions, as well as mortgage giants Fannie Mae and Freddie Mac.
Once executives receive their bonuses, they can be forced to return them if it later turns out they took inappropriate risks or engaged in actions that got their firms in legal trouble.
Thursday, April 21, 2016
Federal Regulators Propose Tougher Rules Governing Wall Street Bonuses
NPR reports:
