As discussed here and here, on October 26, 2022, the Securities and Exchange Commission (SEC) adopted final rules to implement Section 10D of the Securities Exchange Act. The final rules direct the New York Stock Exchange (NYSE) and Nasdaq to adopt listing standards requiring each listed issuer to implement a clawback policy. The clawback policy must mandate the recovery of incentive compensation that was awarded erroneously to executive officers, based on misstated financials.