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NCUA | RIN: 3133-AE48 | Publication ID: Fall 2024 |
Title: Incentive-Based Compensation Arrangements | |
Abstract:
The National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Board of Governors of the Federal Reserve System (FRS), and Securities and Exchange Commission (SEC) proposed but did not finalize a joint rule to implement section 956 of the Dodd-Frank Act in 2011 and 2016. Section 956 requires the regulators to issue regulations or guidelines prohibiting incentive-based compensation arrangements that the regulators determine encourage inappropriate risks and requires institutions to disclose information about the structure of their incentive-based compensation plans to the appropriate regulator. In July 2024, the NCUA Board approved a third proposed rule (based on the 2016 proposed rule), which was also approved by the OCC, the FDIC, and the FHFA. The proposed rule will not be published in the Federal Register until such time as the FRB and the SEC are ready to proceed with the rulemaking. |
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Agency: National Credit Union Administration(NCUA) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 741 12 CFR 751 | |
Legal Authority: 12 U.S.C. 1751 et seq. 12 U.S.C. 5641 |
Legal Deadline:
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Overall Description of Deadline: 12 U.S.C. 5641(b) prescribes a deadline of not later than nine months after July 21, 2010. |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Information URL: https://www.ncua.gov/regulation-supervision/rulemakings-proposals-comment | |
RIN Data Printed in the FR: No | |
Related Agencies: Joint: TREAS/OCC, FDIC, FHFA, FRS, SEC; | |
Agency Contact: Ariel Pereira Senior Staff Attorney National Credit Union Administration 1775 Duke Street, Alexandria, VA 22314 Phone:703 548-2778 Fax:703 518-6569 Email: apereira@ncua.gov |