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CHANGE AGENT: Tough clawbacks are needed to prevent banks from "excessive risk-taking," says John Liu, the New York City comptroller, who manages billions of dollars of pension funds.

Banks Toughen Pay Clawbacks Under Activist Shareholder Pressure

by Andy Peters
APR 30, 2013 2:41pm ET
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The SEC is still working on rules for compensation clawbacks, but some banks have adopted stricter policies in response to pressure from activist shareholders like the New York City comptroller's office.

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