trending Market Intelligence /marketintelligence/en/news-insights/trending/--EDOre4PSFGoOdz_WoFQg2 content esgSubNav
In This List

NYDFS issues guidance on compensation, incentives

Blog

Insight Weekly: US inflation soars; real estate faces slowdown; megadeals drive tech M&A

Blog

Commercial Banking: June 22nd Edition

Blog

Insight Weekly: Path to net-zero; US manufacturing momentum; China's lithium M&A frenzy

Blog

Commercial Banking Newsletter June Edition - 2022


NYDFS issues guidance on compensation, incentives

The NewYork State Department of Financial Services on Oct. 11 issued guidance oncompensation at regulated institutions, emphasizing that employees should notbe incentivized to engage in improper business activities.

Guidance issuedby Superintendent of Financial Services Maria Vullo cited the at , andcalled on covered companies to keep in mind certain principles when developingcompensation policies. These include keeping a balance between risks andrewards, imposing effective controls and risk management, and creatingcorporate governance that supports and oversees proper compensation policies.

Vullo alsoinstructed companies to keep an eye out for situations where conflicts ofinterest would arise, especially in cross-selling or referral bonusarrangements. She added that her department would conduct a supervisory reviewof covered companies' incentive policies during its regular risk examinationprocess.