The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Sat, 22 Aug 2026 11:30:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.10 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Clawbacks Under Dodd-Frank and Other Federal Statutes – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Clawbacks Under Dodd-Frank and Other Federal Statutes https://corpgov.law.harvard.edu/2011/06/09/clawbacks-under-dodd-frank-and-other-federal-statutes/?utm_source=rss&utm_medium=rss&utm_campaign=clawbacks-under-dodd-frank-and-other-federal-statutes https://corpgov.law.harvard.edu/2011/06/09/clawbacks-under-dodd-frank-and-other-federal-statutes/#comments Thu, 09 Jun 2011 13:14:04 +0000 http://blogs.law.harvard.edu/corpgov/?p=18576?d=20150115114934EST Posted by Joseph E. Bachelder III, Law Offices of Joseph E. Bachelder, on Thursday, June 9, 2011
Editor's Note:

Joseph Bachelder is founder and senior partner of the Bachelder Law Firm. This post is based on an article by Mr. Bachelder that first appeared in the New York Law Journal.

As used in this post, “clawback” means a repayment of previously received compensation required to be made by an executive to his or her employer. Three federal statutes that provide for clawbacks are discussed in this post. They are:

  • 1. Sarbanes-Oxley Act of 2002 (SOA) §304; 15 U.S.C. §7243(a);
  • 2. Emergency Economic Stabilization Act of 2008 (EESA) §111(b)(3)(B), as added by Section 7001 of the American Recovery and Reinvestment Act of 2009 (ARRA); 12 U.S.C. §5221(b)(3)(B) (applicable only to recipients of assistance under the Troubled Asset Relief Program (TARP) that have not repaid the Treasury); and
  • 3. Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) §954, 15 U.S.C. §78j-4(b).

A summary comparison of the three statutory clawback rules is provided in the chart below.

(more…)

]]> https://corpgov.law.harvard.edu/2011/06/09/clawbacks-under-dodd-frank-and-other-federal-statutes/feed/ 1