Public companies that re-state their financial results would be required to "claw back," or recover, any excess incentive compensation earned by their corporate executives under a new rule proposed on Wednesday by U.S. regulators.
The Securities and Exchange Commission's plan sparked debate among the agency's five members, with some saying it goes too far and should not be applied to smaller-sized companies.
Republican SEC Commissioner Daniel Gallagher said the plan creates the "potential for substantial injustice" because it could force people to pay back compensation even if they had nothing to do with the restatement.
WASHINGTON |
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