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April 27, 2016, Covington Alert
In late April 2016, federal financial regulators began the process of re-proposing rules (the “Proposal”) to implement restrictions on incentive-based compensation required by Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). Section 956 directs a number of federal regulators (the “Agencies”) to jointly issue regulations or guidelines with respect to incentive-based compensation practices at specific types of financial institutions that have $1 billion or more in assets.
The Proposal comes more than five years after the Agencies initially proposed rules to implement Section 956 (the “2011 Proposal”). In addition to refining the 2011 Proposal, the Proposal incorporates and expands upon principles relating to incentive compensation set forth in the federal banking agencies’ 2010 interagency guidance implementing safety and soundness standards under Section 39 of the Federal Deposit Insurance Act (the “2010 Guidance”).
September 2016, The Banking Law Journal
August 27, 2012
WASHINGTON, DC, August 27, 2012 — Covington & Burling LLP lawyers received 196 individual mentions in 57 areas of law in the 2013 edition of The Best Lawyers in America. This annual compilation of top U.S. lawyers is based on peer-review surveys and is used as a referral guide in the legal profession.
The Covington lawyers recognized are as ...
April 12, 2010
NEW YORK, April 12, 2010 — Covington & Burling LLP’s Scott Smith has been named “Dealmaker of the Week” by The Am Law Daily. Mr. Smith, chair of the firm’s M&A and private equity practices, was recognized for advising SandRidge Energy in its acquisition of Arena Resources, a deal that was announced April 4.
The other members of the New York and Washington ...