MBIA Inc (NYSE:MBI) did not award bonuses to its top executives in 2011. The lack of bonuses was put down to regulatory pressure from New York regulators. Top executives including the company’s chief executive, Jay Brown who was accused of insider trading in recent weeks, did not receive any cash bonse for the fiscal year 2011. The primary regulator involved id the New York Department of Financial Services. The regulator told the company that bonuses were inappropriate at this time given the level of assistance the insurer received during the financial crisis. The lack of bonuses given, on the word of the regulator rather than…
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