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SEC | RIN: 3235-AL06 | Publication ID: Spring 2024 |
Title: Incentive-Based Compensation Arrangements | |
Abstract:
The Division is considering recommending that the Commission, together with the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Federal Housing Finance Agency and the National Credit Union Administration ("the Agencies"), repropose regulations and guidelines with respect to incentive-based compensation practices at certain financial institutions that have $1 billion or more in total assets as required by the Dodd Frank Act. Section 956 of the Dodd Frank Act requires that the Agencies prohibit incentive-based payment arrangements, or any feature of any such arrangement, at a covered financial institution that the Agencies determine encourages inappropriate risks by a financial institution by providing excessive compensation or that could lead to a material financial loss. Under the Act, a covered financial institution also must disclose to its appropriate Federal regulator the structure of its incentive-based compensation arrangements sufficient to determine whether the structure provides "excessive compensation, fees, or benefits" or "could lead to material financial loss" to the institution. |
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Agency: Securities and Exchange Commission(SEC) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: Not Yet Determined (To search for a specific CFR, visit the Code of Federal Regulations.) | |
Legal Authority: 15 U.S.C. 78q 15 U.S.C. 78w 15 U.S.C. 80b-4 and 80b-11 |
Legal Deadline:
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: Undetermined |
Federalism: Undetermined | |
Included in the Regulatory Plan: No | |
RIN Information URL: www./sec.gov/rules/proposed/2016/34-77776.pdf | |
RIN Data Printed in the FR: No | |
Related Agencies: Joint: FDIC, FRS, FHFA, NCUA, TREAS/OCC; | |
Agency Contact: Brian Sims Division of Corporation Finance Securities and Exchange Commission 100 F Street NE, Washington, DC 20549 Phone:202 551-3430 Email: simsb@sec.gov |