Treasury Dept. Names Special Master for TARP Executive Compensation
The Treasury Department published an interim final rule today providing further guidance on the executive compensation and corporate governance provisions applicable to financial institutions receiving TARP funds. As part of today's rule the Treasury Department announced the appointment of Kenneth Feinberg as the Special Master for TARP Executive Compensation. According to today's press release, Mr. Feinberg "will review payments and compensation plans for the executives and the 100 most highly compensated employees of TARP recipients that have received exceptional assistance to ensure that compensation is structured in a way that gives those employees incentives to maximize long-term shareholder value and protect taxpayer interests."
For the rest of the rules published today, either click here for the Treasury Department's press release, or click here for the published interim final rule in its entirety.
