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Update on implementation of SEC’s clawback rules
Publication date: 08 Jun 2023
us News
Update on implementation of SEC’s clawback rules
This week, the NYSE and NASDAQ each submitted amendments to revise the effective date of their proposed listing standards for clawback of erroneously awarded executive compensation. The SEC had been expected to act on the listing standards by June 11, and they would have become effective immediately upon approval by the SEC. The amended listing standards, which are still subject to approval by the SEC, would become effective on October 2, 2023. Companies would have until December 1, 2023 to adopt a recovery policy that complies with the standards.
For more information on the SEC's clawback rule, read our In depth: SEC adopts executive incentive compensation clawback rules.
This week, the NYSE and NASDAQ each submitted amendments to revise the effective date of their proposed listing standards for clawback of erroneously awarded executive compensation. The SEC had been expected to act on the listing standards by June 11, and they would have become effective immediately upon approval by the SEC. The amended listing standards, which are still subject to approval by the SEC, would become effective on October 2, 2023. Companies would have until December 1, 2023 to adopt a recovery policy that complies with the standards.
For more information on the SEC's clawback rule, read our In depth: SEC adopts executive incentive compensation clawback rules.
SEC
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