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Shareholders would like to have more executives subject to clawback, a longer clawback period and the elimination of fault as an element of recovery.
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In the future, the Treasury plan also doesn't limit the time period to which the clawbacks can be applied.
He reiterated his view that bankers' pay needed to have risk-adjusted performance criteria; that bonuses should be deferred over a longer period; and the need for clawback where there is misconduct.
The rest of their yearly awards will come in subordinated debt, as opposed to deferred stock, to be parceled out over a three-year period and subject to a clawback provision if the profits on which the bonuses are based prove to be illusory.
Still, the regulations should make a difference: they apply to a wider group of employees, make pay susceptible to clawbacks for seven years, and extend the bonus-deferral period.
By mandating clawbacks and requiring bonuses to be paid out over a longer period of time, the government is levelling the playing field for the industry's competition for talent.
That's the amount Zabel all but concedes Picard has the right to collect under New York State and federal bankruptcy law clawbacks, because it is what Picower took out in the six-year period prior to Picard's suit.
Inside Credit Suisse such changes as extended vesting periods and aggressive clawbacks have caused grumbling among employees who feel like they're struggling to cover mortgages, tuition and other living expenses.
Take the clawback idea.
He saw clawback.
Many have clawback provisions as well.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com