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‘Clawback’ marks tougher SEC stance

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http://www.ft.com/cms/s/0/bca3a520-7b97-11de-9772-00144feabdc0.html


Some questions, such as whether the provision could be used by private litigants, were partly resolved when courts ruled that only the SEC could enforce it. Private lawsuits invoking the provision have continued to be filed nonetheless.


Whatever the court’s decision, the SEC move serves as a warning to executives, said Charles Elson, director of the corporate governance centre at the University of Delaware. “Even the threat to do it may have an effect because it will make individuals at companies more vigilant.”


litigant 訴訟当事者

invoke (法律に) 訴える

provision 規定; 条項; 条件

nonetheless それでもなお

vigilant 油断なく番をする[警備する]; 油断のない,用心深い

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