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Text of Agency Proposed Regs: Incentive-Based Compensation Arrangements
Federal Deposit Insurance Corporation [FDIC]; Securities and Exchange Commission [SEC]; Federal Reserve System; National Credit Union Administration; Federal Housing Finance Agency; and Comptroller of the Currency Link to more items from this source
[Official Guidance]
June 9, 2016

698 pages. "Section 956 of the Dodd-Frank Act requires that the Agencies prohibit any types of incentive-based compensation arrangements, or any feature of any such arrangements, that the Agencies determine encourage inappropriate risks by a covered financial institution: [1] by providing an executive officer, employee, director, or principal shareholder of the covered financial institution with excessive compensation, fees, or benefits; or [2] that could lead to material financial loss to the covered financial institution....

"The first part of this Supplementary Information section provides background information on the proposed rule, including a summary of the 2011 Proposed Rule and areas in which the proposed rule differs from the 2011 Proposed Rule. The second part contains a section-by-section description of the proposed rule.

"To help explain how the requirements of the proposed rule would work in practice, the Appendix to this Supplementary Information section sets out an example of an incentive-based compensation arrangement for a hypothetical senior executive officer at a hypothetical large banking organization and an example of how a forfeiture and downward adjustment review might be conducted for a senior manager at a hypothetical large banking organization."

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