Amendment, as offered, strikes provisions prohibiting callbacks of executive compensation approved by shareholders and inserts language prohibiting rules of financial regulators from requiring recovery of incentive-based pay under arrangements in effect on the date of enactment. As modified (page H9226 of the Congressional Record), text is inserted which clarifies that the intent is to prevent the SEC from making inappropriate requirements with respect to executive compensation.

Purpose:

An amendment numbered 1 printed in House Report 111-237 to strike language prohibiting clawbacks of executive compensation approved by shareholders and insert language prohibiting rules of financial regulators from requiring recovery of incentive-based pay under arrangements in effect on the date of enactment.

House Amendment Code:

(A001)

House Tally Clerks use this code to manage amendment information.