Clawback Under Dodd-Frank on SEC Agenda

The SEC will consider new compensation clawback rules, possibly looking to new rules published recently by the Bank of England Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA). The new UK rules require the deferral of unpaid incentive compensation and could require the clawback of paid incentive compensation. For “senior managers,” the deferral period will be seven years, for “risk managers” five years.