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Dodd-Frank Clawback Policy: Additional Action Required for NYSE-Listed Companies by December 31, 2023

Proskauer's Employee Benefits & Executive Compensa

For more information from the NYSE, please refer to the following e-mail blasts sent by the NYSE on September 8, 2023 and October 12, 2023. Proskauer’s Employee Benefits and Executive Compensation team is advising companies on the adoption and implementation of compensation clawback policies.

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Final SEC Clawback Rules: Key Dates that Issuers Need to Know

Proskauer's Employee Benefits & Executive Compensa

On November 28, 2022, the Securities and Exchange Commission (the “SEC”) published the final clawback rules (the “Final Rules”) under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) in the Federal Register. November 28, 2023 : Outside date for the exchanges’ listing standards to become effective.

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Deadlines for the Adoption of Clawback Policies Extended

McDermott Will & Emery Employee Benefits

The US Securities and Exchange Commission (SEC) recently approved amendments to clawback policy listing standards proposed by the New York Stock Exchange (NYSE) and the Nasdaq Stock Market LLC (Nasdaq) that extend the effective date of the exchanges’ respective listing standards to October 2, 2023.

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NYSE and Nasdaq File Amended Proposed Clawback-Related Listing Standards

Snell & Wilmer Benefits

As described in Part 4 of our 2022 end of year plan sponsor “to do” list , on October 26, 2022, the Securities and Exchange Commission published the final clawback rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”).

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Addressing DOJ’s New Compliance Focus on Executive Compensation

McDermott Will & Emery Employee Benefits

The new compliance focus on executive compensation, as announced by the US Department of Justice (DOJ) on March 3, 2023, has significant implications for how healthcare organizations address both corporate compliance and compensation programs for their executives.

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Sweeping Ban on Non-Compete Clauses Proposed by Federal Trade Commission

Proskauer's Employee Benefits & Executive Compensa

On January 5, 2023, the Federal Trade Commission (“FTC”) proposed an expansive new rule which would impose a near-complete ban on the use of noncompetes (the “Proposed Rule”) by employers. The FTC’s notice of the Proposed Rule is the first step in the rulemaking process.