The Fifth Third case is interesting because it shows that securities regulators can indeed require executives to pay penalties out of their own pockets when they settle charges of flouting securities laws.
But the regulatory action is also notable for what it did not involve: an executive pay clawback under the Sarbanes-Oxley law. Indeed, the Fifth Third action illustrates how challenging it is for regulators to mount such cases.
‘Enforcement 40’ for 2020
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