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On November 28, 2022, the Securities and Exchange Commission (the “SEC”) published the final clawback rules (the “Final Rules”) under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) in the Federal Register. November 28, 2023 : Outside date for the exchanges’ listing standards to become effective.
For more information from the NYSE, please refer to the following e-mail blasts sent by the NYSE on September 8, 2023 and October 12, 2023. Proskauer’s Employee Benefits and ExecutiveCompensation team is advising companies on the adoption and implementation of compensation clawback policies.
The US Securities and Exchange Commission (SEC) recently approved amendments to clawback policy listing standards proposed by the New York Stock Exchange (NYSE) and the Nasdaq Stock Market LLC (Nasdaq) that extend the effective date of the exchanges’ respective listing standards to October 2, 2023.
As described in Part 4 of our 2022 end of year plan sponsor “to do” list , on October 26, 2022, the Securities and Exchange Commission published the final clawback rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”).
The new compliance focus on executivecompensation, as announced by the US Department of Justice (DOJ) on March 3, 2023, has significant implications for how healthcare organizations address both corporate compliance and compensation programs for their executives.
On January 5, 2023, the Federal Trade Commission (“FTC”) proposed an expansive new rule which would impose a near-complete ban on the use of noncompetes (the “Proposed Rule”) by employers. The FTC’s notice of the Proposed Rule is the first step in the rulemaking process.
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