United States: Agencies Request Comment On Joint Proposal To Limit Incentive-Based Compensation Arrangements At Covered Institutions (Fed. Reg.)

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the FDIC, the Federal Housing Finance Agency, the National Credit Union Administration, and the SEC requested comment on a joint proposal that would limit incentive-based compensation arrangements at covered institutions, as required by Section 956 of the Dodd-Frank Act. The request for comment was published in the Federal Register.

Comments on the proposed rulemaking must be submitted by July 22, 2016.

Commentary

Concerns remain about whether this rulemaking might injure the institutions that it is intended to protect by handicapping their ability to compete at market rates for talent. See Regulators Propose Restricting Incentive-Based Compensation Arrangements at Covered Institutions.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.