Source: https://law.justia.com/codes/us/2015/title-15/chapter-2b/sec.-78j-4/
Timestamp: 2019-03-21 12:21:48
Document Index: 747989493

Matched Legal Cases: ['§ 78', '§10', '§954', '§ 78', '§78', '§10', '§954']

15 U.S.C. § 78j-4 (2015) - Recovery of erroneously awarded compensation policy :: Title 15 - Commerce and Trade (Sections 1 - 8405) - US Code :: Justia
Justia US Law US Codes and Statutes US Code 2015 US Code Title 15 - Commerce and Trade (Sections 1 - 8405) Chapter 2B - Securities Exchanges (Sections 78a - 78pp) Sec. 78j-4 - Recovery of erroneously awarded compensation policy
Contains section 78j-4
Source Credit June 6, 1934, ch. 404, title I, §10D, as added Pub. L. 111-203, title IX, §954, July 21, 2010, 124 Stat. 1904.
Statutes at Large Reference 124 Stat. 1904
15 U.S.C. § 78j-4 (2015)
§78j–4. Recovery of erroneously awarded compensation policy
(a) Listing standards
The Commission shall, by rule, direct the national securities exchanges and national securities associations to prohibit the listing of any security of an issuer that does not comply with the requirements of this section.
The rules of the Commission under subsection (a) shall require each issuer to develop and implement a policy providing—
(1) for disclosure of the policy of the issuer on incentive-based compensation that is based on financial information required to be reported under the securities laws; and
(2) that, in the event that the issuer is required to prepare an accounting restatement due to the material noncompliance of the issuer with any financial reporting requirement under the securities laws, the issuer will recover from any current or former executive officer of the issuer who received incentive-based compensation (including stock options awarded as compensation) during the 3-year period preceding the date on which the issuer is required to prepare an accounting restatement, based on the erroneous data, in 1 excess of what would have been paid to the executive officer under the accounting restatement.
(June 6, 1934, ch. 404, title I, §10D, as added Pub. L. 111–203, title IX, §954, July 21, 2010, 124 Stat. 1904.)
1 So in original. Probably should be "compensation in".