President Obama Announces New Restrictions on Executive Compensation for Financial Institutions Receiving Government Assistance

On February 4, the White House and the U.S. Department of Treasury (the Treasury Department) issued a press release announcing new guidelines on executive pay for financial institutions receiving government assistance under the Troubled Assets Relief Program. We expect that in the coming weeks additional guidance regarding the application and scope of the guidelines will be issued, and that guidance will have a material effect on how the guidelines are interpreted and administered.

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