Reuters U.S. SEC to vote on executive compensation clawback rule The U.S. Securities and Exchange Commission on Wednesday will vote on whether to adopt a rule that would expand the regulator’s powers to clawback executives’ compensation when companies restate their financials due to compliance lapses. The proposed rule, which Congress had mandated following the 2007-2009 financial crisis, but was left unfinished in 2015, was revived by the SEC under Chair Gary Gensler last year as part of a broader effort to crack down on corporate malfeasance by boosting the agency’s tools for penalizing executives. “I believe that these rules, if adopted, would strengthen the transparency and quality of corporate financial statements, investor confidence in those statements, and the accountability of corporate executives to investors,” Gensler said in a statement ahead of the vote.
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