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TREAS/OCC | RIN: 1557-AD39 | Publication ID: Fall 2014 |
Title: Incentive-Based Compensation Arrangements | |
Abstract:
Section 956 of the Dodd-Frank Act requires the banking agencies NCUA, SEC, and FHFA to jointly prescribe regulations or guidance prohibiting any type of incentive-based payment arrangement or any feature of any such arrangement that the regulators determine encourages inappropriate risks by covered financial institutions by providing an executive officer, employee, director, or principal shareholder with excessive compensation fees or benefits or that could lead to material financial loss to the covered financial institution. The Dodd-Frank Act also requires such agencies to jointly prescribe regulations or guidance requiring each covered financial institution to disclose to its regulator the structure of all incentive-based compensation arrangements offered by such institution sufficient to determine whether the compensation structure provides any officer, employee, director, or principal shareholder with excessive compensation or could lead to material financial loss to the institution. The agencies issued a proposed rule pursuant to these requirements. |
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Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 42 | |
Legal Authority: PL 111-203, sec 956 12 USC 5641 12 USC 1462a to 1464 12 USC 1467a 12 USC 5641 |
Legal Deadline:
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Overall Description of Deadline: Regulations or guidelines required nine months after the date of enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) (Pub. L. 111-203). |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Related RINs: Related to 1550-AC49, Related to 1557-AD54 | |
Agency Contact: Alison MacDonald Senior Counsel Department of the Treasury Comptroller of the Currency Chief Counsel's Office, 400 7th Street SW., Washington, DC 20219 Phone:202 649-7314 Email: alison.macdonald@occ.treas.gov Heidi M. Thomas Senior Counsel Department of the Treasury Comptroller of the Currency Chief Counsel's Office, 400 7th Street SW., Washington, DC 20219 Phone:202 649-5490 Email: heidi.thomas@occ.treas.gov |