Wall Street executives are facing further scrutiny of their pay deals as governance crusaders push to beef up bonus “clawback” regimes.
Campaigning shareholders want JPMorgan Chase, Bank of America and Citigroup to toughen schemes that put senior bankers on the hook for future losses.
Details of clawback arrangements vary by bank, but at present bonuses can typically only be recouped if executives have acted fraudulently or are guilty of wilful misconduct.
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