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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.

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New York City’s Wage Transparency Law to Take Effect November 1, 2022

McDermott Will & Emery Employee Benefits

On January 15, 2022, the New York City Council enacted Local Law 32 of 2022 (Wage Transparency Law or Law) to amend the New York City Human Rights Law (NYCHRL) to require that most employers include compensation data in their job advertisements. The Law was supposed to take effect on May 15, 2022, however, it […].

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Inflation and ERISA Penalties: Hand in Hand for 2022

McDermott Will & Emery Employee Benefits

The increased penalties generally apply to reporting and disclosure failures if the penalty is assessed after January 15, 2022, and if the violation occurred after […]. The post Inflation and ERISA Penalties: Hand in Hand for 2022 appeared first on EMPLOYEE BENEFITS BLOG.

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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

The Securities and Exchange Commission adopted the final clawback rules under Dodd-Frank (the “ Final Rules ”) on October 26, 2022, and we discussed the detailed requirements of the Final Rules and related practical considerations in this earlier blog post.

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Restrictive Covenants Evolve from Common Law to Statutory Regulation: The 2022 Watershed

McDermott Will & Emery Employee Benefits

The post Restrictive Covenants Evolve from Common Law to Statutory Regulation: The 2022 Watershed appeared first on EMPLOYEE BENEFITS BLOG. Unlike state statutes regulating trade secrets (which largely follow the Uniform […].

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Proxy Season Greetings: ISS and Glass Lewis Announce Policy Updates Ahead of the 2023 Proxy Season

Proskauer's Employee Benefits & Executive Compensa

Proxy advisory firms Institutional Shareholder Services (“ISS”) and Glass Lewis (“GL”) each published their annual policy updates for 2023, which updates made certain changes relating to executive compensation. [1] To learn more about the SEC’s new Pay-vs-Performance disclosure requirements , read our blog post here.

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Save It for a Rainy Day Part 2: IRS Announces Additional Plan Amendment Extensions

McDermott Will & Emery Employee Benefits

On September 26, 2022, the Internal Revenue Service (IRS) extended the amendment deadline for non-governmental qualified retirement plans, plans covered under Section 403(b) of the Internal Revenue Code (Code) and individual retirement accounts (IRAs).