On May 6, the Federal Deposit Insurance Corp. (FDIC), Office of the Comptroller of the Currency (OCC), and Federal Housing Finance Agency (FHFA) issued a Notice of Proposed Rulemaking addressing incentive-based compensation arrangements (the Proposed Rule). The Proposed Rule is designed to implement Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). It is a re-proposal of the joint proposed rule issued in 2016 with the identical text, which is summarized in this article. However, the Proposed Rule has a new preamble and a request for comments, seeking feedback on several alternative provisions that could be included in a final rule. Continue reading )
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.