<p><span>Today, the Commission is considering whether to re-propose rules to prohibit a range of market participants that sell or sponsor asset-backed securities (ABS) from taking positions against those very products. I am pleased to support this re-proposed rule as it fulfills Congress’s mandate to address conflicts of interests in the securitization market, which contributed to the 2008 financial crisis.</span></p>
MIL-OSI USA: Statement on Final Rules Regarding Clawbacks of Erroneously Awarded Compensation foreignaffairs.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foreignaffairs.co.nz Daily Mail and Mail on Sunday newspapers.
<p><span>To start, as with all the items on the agenda today, thank you to the staff across the multiple divisions and offices who have worked on this rulemaking. It is an incredibly busy time at the Commission that has required a strong and sustained push from the dedicated civil servants here. So I will reiterate my sincere thanks and appreciation to each of you.</span></p>
<p><span>I support today’s action to re-open comment on the Dodd-Frank Act rule regarding clawbacks of erroneously awarded incentive-based compensation. I believe we have an opportunity to strengthen the transparency and quality of corporate financial statements as well as the accountability of corporate executives to their investors.</span></p>
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