McGuireWoods partner and McGuireWoods Consulting senior advisor Rosemary Becchi (Washington, Tax & Employee Benefits, Federal Government Relations) and Charlotte partner Taylor French (Tax Employee Benefits) commented in an August 4 story by Ignites, a Financial Times publication, discussing the Securities & Exchange Commission’s proposed rule governing incentive-based pay for senior executive officers and “significant risk-takers” at investment firms and financial institutions.
The article reviews comments by industry leaders, including McGuireWoods, and provides insight from Becchi and French on how the rule would subject certain financial institutions to stringent compensation and exposure tests that could affect firms’ ability to recruit and retain talent. Titled “SEC Pay Proposal Hinders Recruiting, Not Risk Taking: ICI,” the full article is available to subscribers online.