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What are the 'clawback' provisions in the Dodd-Frank act?
What are these clawbacks designed to accomplish? What roadblocks will these clawbacks likely face?
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The Sarbanes-Oxley Act introduced the concept of 'clawbacks,' which are designed to accomplish recouping incentives paid to executive officers in the event of any financial restatement based on executive misconduct. Dodd-Frank essentially has required companies to both adopt and disclose the company 'clawback' policies. I think one roadblock with clawbacks, as well as other aspects of the Dodd-Frank regulations, is that it concerns itself too much with penalizing bad corporate behavior rather than rewarding good corporate behavior.
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