'Clawing Back' Executive Compensation: Companies Listed on the NYSE and Nasdaq Have Until December 1 to Adopt a Compensation Recovery Policy

Summary

Companies listed on the New York Stock Exchange (NYSE) and Nasdaq Stock Market (Nasdaq) have until December 1 to adopt compliant clawback policies now that the SEC has approved listing standards the exchanges proposed. The SEC adopted clawback rules last year instructing securities exchanges to propose the standards. The standards require exchange-listed companies to develop and implement policies to recover erroneously awarded incentive-based compensation received by executive officers.