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The term clawback or claw back refers to any money or benefits that have been given out, but are required to be returned (clawed back) due to special circumstances or events, such as the monies having been received as the result of a financial crime, or where there is a clawback provision in the executive compensation contract.
[5] [6] The clawback clause is triggered at the very end of the fund, at a time where the General Partner may have already put the clawback amount to other use. In August 2010, Blackstone Group returned $3 million in carried interest to the limited partner of a fund as part of a clawback provision. [7]
A hedge fund is a pooled ... practices in the hedge funds sector is the potential restriction of remuneration through bonus deferrals and clawback provisions. ...
He said a clawback provision typically applies to the incentive period and three to five years following the incentive term. Council is expected to vote on the tax break during its 7 p.m. meeting ...
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 ...
The founder of Archegos Capital Management, a hedge fund, was sentenced to 18 years in prison on Wednesday for securities and market manipulation fraud in a scheme that prosecutors said cost ...
The Optimal SUS fund, one of Madoff's largest feeder funds, [83] agreed to pay $235 million, about 85% of the $285 million that the Geneva-based hedge fund group redeemed in the 90 days before Madoff was arrested. As of December 2008, Santander had $3.2 billion of clients' money invested with Madoff, a relationship that started in 1996.
Investors who made money investing through Bernie Madoff could be facing a clawback lawsuit, which seeks to get back funds from investors who made withdrawals before the firm collapsed.
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