Financial Regulatory Forum

Taiwan takes tough stance on corporate governance

By Guest Contributor
April 19, 2011

By Patricia Lee

(Complinet) Taiwan’s Financial Supervisory Commission has stepped up enforcement of its corporate governance regulations by making it mandatory for listed firms and financial institutions to appoint independent directors and set up a remuneration committee. The latest regulations will carry a penalty in the event of any breaches, an FSC official told Complinet, speaking on condition of anonymity.

Dodd-Frank’s hatchet men: SEC & others go after incentive-based compensation

By Guest Contributor
March 9, 2011

March 8 (Westlaw Business) –  Can Dodd-Frank’s latest anti-risk salvo, a new proposed rule on incentive-based compensation, solve as many questions as it raises? In theory, the idea is a noble one: break the chain of managing for the short-money by curtailing lopsided risks that ultimately soak the taxpayer. But even the SEC and the other agencies involved under the new Dodd-Frank regime admit there will be no shortage of questions.

ANALYSIS-US companies tweak CEO pay packages ahead of vote

By Reuters Staff
January 6, 2011

By Dena Aubin

NEW YORK, Jan. 5 (Reuters) - Corporate America is bracing for the judgment of shareholders on lucrative executive pay packages, tossing out some perks, tweaking pensions and taking pains to show how compensation is linked to performance.

PREVIEW-FINRA faces calls to lift veil on finances, pay

By Reuters Staff
August 10, 2010

By Joseph A. Giannone

NEW YORK, Aug 10 (Reuters) – Wall Street regulator FINRA, which demands disclosure and openness from brokers, is under pressure to lift the veil on its own affairs.

FACTBOX – How does the EU plan to shake up financial services?

By Reuters Staff
April 7, 2010

BRUSSELS, April 7 (Reuters) – The European Union (EU) is embarking on an overhaul of financial services that politicians hope will send bankers back to their roots of no-frills lending to households and business.

US pay czar: Fannie Mae, Freddie Mac unique when it comes to pay

By Reuters Staff
December 31, 2009

WASHINGTON, Dec 30 (Reuters) – Mortgage finance firms Fannie Mae and Freddie Mac face a unique set of problems that distinguish them from other companies receiving government aid when it comes to setting executive pay, the Obama administration’s pay czar said on Wednesday.

Pay czar Feinberg increased base pay at rescued U.S. firms – WSJ

By Reuters Staff
October 28, 2009

Oct 28 (Reuters) – Kenneth Feinberg, the U.S. Treasury bailout program’s special master for compensation, who cut total compensation for top earners at seven bailed-out firms last week, increased base salaries at the companies, the Wall Street Journal said, citing its own analysis of U.S. Treasury data.

INTERVIEW – Obama’s pay czar looking ahead to 2010 with deeper, not broader bite

By Reuters Staff
October 28, 2009

Kenneth Feinberg, Special Master for TARP Executive Compensation, speaks to Reuters during an interview at his Washington law office, October 26, 2009.  REUTERS/Jason Reed   (UNITED STATES)   By Steve Eder
WASHINGTON, Oct 27 (Reuters) – The Obama administration’s pay czar, who sent shock waves through Wall Street by slashing compensation at seven bailed-out companies, says those moves were just the beginning.

EU central banker Noyer says banks have resumed risk-taking, must preserve capital

By Reuters Staff
October 26, 2009

Bank of France Governor Christian Noyer attends a conference organized by the Paris Club and Institute for International Finance (IIF) in Paris June 25, 2009. (File Photo) REUTERS/Benoit Tessier   By Jan Dahinten and Neil Chatterjee
SINGAPORE, Oct 26 (Reuters) – European Central Bank Governing Council member Christian Noyer warned that banks are taking the same risks that led to the financial crisis and said they should preserve capital rather than pay it out to bankers and investors.His comments came as regulators around the world mull reforms to lower the risks that large banks can pose to the financial system and rein in the type of recklessness that fueled the credit crisis.

U.S. slashes pay at seven bailed out firms, cuts cash up to 90 percent

October 22, 2009

   WASHINGTON, Oct 22 (Reuters) – The U.S. Treasury’s pay czar on Thursday slashed overall pay by more than half for top earners at seven companies that received massive taxpayer bailouts, and ordered that most of their salaries be paid in the form of long-term company stock. Kenneth Feinberg, charged with approving or renegotiating pay contracts for the 25 highest-paid employees at the seven banks and automakers, said their cash compensation for 2009 would drop by more than 90 percent compared to 2008.