Financial institutions face more scrutiny from regulators and the general public than ever before particularly when it comes to executive and incentive pay. In response, the president signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) into law on July 21, 2010. Among the Dodd-Frank Act’s many provisions are new rules for incentive compensation.
On Feb. 7, 2011, the Federal Deposit Insurance Corporation (FDIC) proposed a number of regulations for implementing compensation provisions in the Dodd-Frank Act. The FDIC’s proposed regulations reach beyond banks and will affect a range of financial services firms, including broker-dealers and investment advisers.
Beyond banks: New incentive compensation rules reach entire industry explores: