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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.
It will take a while for clawback policies to take effect, and the hijinks for which the big banks are being taken to task can be scary to investors who are in for the long haul, trying to build ...
Clawback; Corporate action; ... action is an event initiated by a public company that brings or could bring an actual change to the debt securities—equity or debt ...
Disgorgement is the act of giving up something on demand or by legal compulsion, for example giving up profits that were obtained illegally. [1]In United States regulatory law, disgorgement is often a civil remedy imposed by some regulatory agencies to seize illegally obtained profits.
Citrix Systems has revised price talk for its $4 billion offering of 6.5-year (non-call three) senior secured notes to 10%, or an OID of 83.561, versus previous talk at 9.50%–9.75% (OID: 85.695 ...
The bill also mandates an expansion of the Sarbanes Oxley "clawback" (recoupment) provision, requiring corporate executive compensation contracts to include a "clawback" provision, whereby in the event of an accounting restatement, the executives must pay back any bonuses or incentive compensation based on the accounting mistake.
Structure of a private equity or hedge fund, which shows the carried interest and management fee received by the fund's investment managers. The general partner is the financial entity used to control and manage the fund, while the limited partners are the individual investors.