JP Morgan has confirmed it will bow to shareholder demands and make a public disclosure when it claws back money from executives, following a rule by SEC (the Securities and Exchange Commission), that now requires companies to disclose clawbacks under certain conditions. The issue of clawbacks came to the fore when JP Morgan took back payments it had previously given to executives connected to the so-called London Whale incident, in which traders from the lenders investment office lost nearly $6bn.
JP Morgan has confirmed it will bow to shareholder demands and make a public disclosure when it claws back money from executives, following a rule by the Securities and Exchange Commission (SEC), that now requires companies to disclose clawbacks under certain conditions. The issue of clawbacks came to the fore when JP Morgan took back payments it had previously given to executives connected to the so-called London Whale incident, in which traders from the lenders investment office lost nearly $6bn.