A group of financial regulatory agencies has released for comment revised proposed rules under Section 956 of the Dodd-Frank Act Wall Street Reform and Consumer Protection Act. The rules provide for regulations and guidelines with respect to incentive-based compensation practices at financial institutions with $1 billion or more in assets (Covered Institutions).
The agencies that released the proposed rules are the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the National Credit Union Administration, and the Federal Housing Finance Agency.
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