SEC Reopens Comment Period for Proposed Rule on Recovery of Erroneously Awarded Compensation

The Securities and Exchange Commission today reopened the comment period on proposed rules for listing standards for recovery of erroneously awarded compensation, and the staff of the Commission released a memo that contains additional analyses and data that has the potential to be informative for evaluating the proposals. Specifically, the staff memo: Discusses the increase in voluntary adoption of compensation recovery policies by issuers; Discusses the increase in voluntary adoption of compensation recovery policies by issuers; Provides estimates of the number of additional restatements that would trigger a compensation recovery analysis if, as the Commission described in the October 2021 reopening release, the rules were extended to include all required restatements made to correct an error in previously issued financial statements; and Provides estimates of the number of additional restatements that would trigger a compensation recovery analysis if, as the Commission described in the October 2021 reopening release, the rules were extended to…