Reuters – Like it or Not, Dodd-Frank Clawback Rule Coming
January 12, 2022
The SEC under the leadership of Chair Gary Gensler is expected to move forward with unfinished Dodd-Frank executive compensation rules, including so-called clawback rules.
“The Biden administration probably believes that this is the least invasive and probably shareholder-friendly adoption of the proposal that they can make, given that many companies have already put in clawback provisions within their programs, kind of knowing that this was a portion of Dodd-Frank,” Farient Advisors’s Partner and COO R.J. Bannister said in an interview. “We think sometime by year-end that they do come up with some type of adoption of a rule for consideration for ’23.”
About Richard Bannister
Partner, COO, Farient Advisors/GECN Group, New York
R.J. has 30-plus years of experience consulting to the S&P 1500 and large private companies representing the board’s compensation committee or management, and sometimes both parties. R.J. has worked with hundreds of companies on their total rewards strategy and executive compensation philosophy to align pay programs with business strategy.
His ability to create alignment results from deep insights on industry and compensation trends; sophisticated financial, market, and compensation analytics; and impactful, easy-to-implement solutions. He has worked in nearly every industry sector and extensively with private equity companies. Before joining Farient, R.J. was the founder and CEO of Bannister Group LLC, an executive compensation and total rewards consultancy he founded in 2019 after retiring as a managing director from Willis Towers Watson.
R.J. holds an MSc in economics from the London School of Economics and a BS in economics from the University of Pennsylvania’s Wharton School with a triple concentration in corporate finance, strategic management, and international political science.