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US regulators mulling bid to limit bonuses for Wall Street execs, WSJ reports
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US regulators mulling bid to limit bonuses for Wall Street execs, WSJ reports
Apr 19, 2024 11:18 AM

April 19 (Reuters) - U.S. banking regulators are

planning to revive a proposal that would require big banks to

defer executive compensation and claw back more of their bonuses

if losses pile up, the Wall Street Journal reported on Friday.

Six agencies, including the Federal Deposit Insurance Corp

(FDIC) and the Office of the Comptroller of the Currency (OCC),

are involved in developing the plan, the report said, adding

that the measure could be proposed in the coming days.

The Federal Reserve is not involved in drafting the

proposal, the report said.

Executive pay on Wall Street has long been a hot-button

issue, with critics pushing for restrictions and arguing for

more stringent clawback provisions.

The FDIC declined to comment on the report, while the OCC

and the Fed did not immediately respond to Reuters requests for

comment.

(Reporting by Niket Nishant in Bengaluru; Editing by Devika

Syamnath)

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