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News | 01.14.16

CLIENT ALERT: Bank of England Proposes New Rules on Banker Compensation Buy-Outs

January 14, 2016 – The Prudential Regulatory Authority (“PRA”), the regulatory and supervisory arm of the Bank of England, issued proposed new rules and a press release yesterday, calling on employers providing “buy-outs” to bankers to include clawback provisions in employment contracts, which allow for compensation to be clawed back if it is determined later that the individual engaged in misconduct during their prior employment. The attached Client Alert examines the details of the proposed new rules.

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