Senators Elizabeth Warren (D-MA), Josh Hawley (R-MO), Mike Braun (R-IN), and Catherine Cortez Masto (D-NV) introduced a bill to "to clarify that the Federal Deposit Insurance Corporation and appropriate Federal regulators have the authority to claw back certain compensation paid to executives."
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House Financial Services Committee Ranking Member Maxine Waters (D-CA) called on regulators to complete a “long over due” rulemaking on incentive based compensation following the closure of Silicon Valley Bank and Signature Bank.
A broker-dealer settled FINRA charges for failing to register third-party workers.
In a Financial Institution Letter, the FDIC highlighted changes made to the Federal Deposit Insurance Act as to prohibitions on bank employment of an individual who has been convicted of an offense relating to dishonesty, breach of trust or money laundering.
The FTC extended the comment period on a proposed rule banning employers from subjecting their employees to noncompete clauses. The extension is from March 20 until April 19, 2023.