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15 U.S.C. § 78j4 15 u.s.c. · securities exchanges · title 15
15 U.S.C. § 78j4
Recovery of erroneously awarded compensation policy
Title 15 USC
● ACTIVE
Ch. 2B
Jurisdiction Federal — United States
Chapter SECURITIES EXCHANGES
Primary Source uscode.house.gov ↗
Federation ID OM-USC15-SEC-E6F7AB
STATUTORY TEXT primary source · verbatim · uscode.house.gov

U.S.C. Title 15 - COMMERCE AND TRADE 15 U.S.C. United States Code, 2023 Edition Title 15 - COMMERCE AND TRADE CHAPTER 2B - SECURITIES EXCHANGES Sec. 78j-4 - Recovery of erroneously awarded compensation policy From the U.S. Government Publishing Office, www.gpo.gov

§78j–4. Recovery of erroneously awarded compensation policy

(a) Listing standards The Commission shall, by rule, direct the national securities exchanges and national securities associations to prohibit the listing of any security of an issuer that does not comply with the requirements of this section. (b) Recovery of funds The rules of the Commission under subsection (a) shall require each issuer to develop and implement a policy providing— (1) for disclosure of the policy of the issuer on incentive-based compensation that is based on financial information required to be reported under the securities laws; and (2) that, in the event that the issuer is required to prepare an accounting restatement due to the material noncompliance of the issuer with any financial reporting requirement under the securities laws, the issuer will recover from any current or former executive officer of the issuer who received incentive-based compensation (including stock options awarded as compensation) during the 3-year period preceding the date on which the issuer is required to prepare an accounting restatement, based on the erroneous data, in 1 excess of what would have been paid to the executive officer under the accounting restatement.

(June 6, 1934, ch. 404, title I, §10D, as added Pub. L. 111–203, title IX, §954, July 21, 2010, 124 Stat. 1904.)

Statutory Notes and Related Subsidiaries

Effective Date Section effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of Title 12, Banks and Banking.

1 So in original. Probably should be "compensation in".

Source: uscode.house.gov — public domain Official Source ↗
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The statutory text of 15 U.S.C. § 78j4 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
OakMorel Law
15 U.S.C.
Citation
15 U.S.C. § 78j4
Status
● ACTIVE
Chapter
2B — SECURITIES EXCHANGES
Title
Commerce and Trade
Jurisdiction
Federal
Federation ID
OM-USC15-SEC-E6F7AB
Root-LD Spec
v1.0
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Commerce and Trade — 15 U.S.C. § 78j4