pay cap

Pay Czar Feinberg to Ask for Stronger Clawback Provisions

Wall Street "pay czar" Kenneth Feinberg will ask several financial firms to strengthen so-called clawback provisions, but will not force them to recover bonuses paid at the height of the financial crisis, CNBC reported. Clawback provisions allow companies to reclaim compensation given to employees if, for instance, the employee is found to have caused significant losses for the firm.