The Treasury has issued additional executive compensation rules applicable to those entities participating in the government’s TARP program. The rules deal with reporting and recordkeeping requirements.
Document Excerpt
The U.S. Department of the Treasury today issued interim final rules for reporting and recordkeeping requirements under the executive compensation standards of the Troubled Asset Relief Program’s (TARP) Capital Purchase Program (CPP).
The new rule issued today requires the chief executive officer (CEO) to certify annually within 135 days after the financial institution’s fiscal year end that the financial institution and its compensation committee have complied with these executive compensation standards.
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