(Reuters) -U.S. banking regulators are planning to revive a proposal that would require big banks to defer executive compensation and claw back more of their bonuses if losses pile up, the Wall Street Journal reported on Friday.
Six agencies, including the Federal Deposit Insurance Corp (FDIC) and the Office of the Comptroller of the Currency (OCC), are involved in developing the plan, the report said, adding that the measure could be proposed in the coming days.
The Federal Reserve is not involved in drafting the proposal, the report said.
Executive pay on Wall Street has long been a hot-button issue, with critics pushing for restrictions and arguing for more stringent clawback provisions.
The FDIC, the OCC and the Fed declined to comment on the report, when contacted by Reuters.
(Reporting by Niket Nishant in Bengaluru; Editing by Devika Syamnath)
CEO and Founder of CanAm Bullion has been dedicated to delivering exceptional value to Canadians since 2017. Driven by a mission to empower Canadians with expert investment advice and education, he has positioned CanAm Bullion as a trusted resource for those seeking to enhance their portfolios with precious metals. Under Michael’s leadership, the company has become synonymous with reliability, knowledge, and dedication, helping Canadians achieve greater financial stability and long-term success.
Share This Article
Choose Your Platform: Facebook Twitter Google Plus Linkedin