The US securities exchanges (NYSE and Nasdaq) recently introduced new rules requiring listed US companies to adopt policies that provide for clawback of incentive-based compensation in the event of a restatement of the company's financial statements.
In this Legal Update, Mayer Brown's Employment and Benefits Group discusses the impact of the new rules on companies that may need to enforce such rules in other countries, including specific commentary on the laws of: Brazil, China, France, Germany, Hong Kong, Singapore, the United Arab Emirates and the United Kingdom. In particular, we consider whether such policies are enforceable in those countries and how easily clawback can be achieved.
You can read the update here.
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