For the first time, the Securities and Exchange Commission is seeking to enforce a provision of the 2002 Sarbanes-Oxley Act, enacted in the wake of the Enron and WorldCom scandals, which provides that any CEO or CFO shall pay back any bonuses or incentive-based compensation whenever the company is required to prepare an accounting restatement necessitated by misconduct – but not necessarily the CEO’s or CFO’s own misconduct.

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SEC Seeks to "Clawback" Benefits from an "Innocent" CEO