Morgan Stanley, the investment bank that cut pay for top execs, expanded the reach of “clawbacks” that could force managers to return bonuses if their conduct is unethical or distorts earnings, Bloomberg's best report.
All long-term incentive pay for top executives named in the annual compensation table will be covered by the new rules, the New York-based firm said today in its proxy statement. A clawback could be caused by an act or omission that triggers a restatement, or if the person violates risk policies and standards, regardless of whether the impact on results is favorable or unfavorable, Morgan Stanley said….
Find out more at http://www.bloomberg.com/news/2012-04-05/morgan-stanley-expands-reasons-to-claw-back-executive-pay.html
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