June 16, 2009
The U.S. Treasury Department has published new rules in the Federal Register governing some meeting, event, incentive and travel expenses for companies that received Troubled Asset Relief Program (TARP) funds.
The new guidelines, which today enter a 60-day comment period before finalization, focus on executive compensation and corporate governance, and would require TARP recipients “to eliminate excessive and luxury expenditures,” as defined by the Treasury Secretary.
Those could include “entertainment or events, office and facility renovations, aviation or other transportation services, and other similar items, activities or events,” the rule states.
For the full article, visit Business Travel News’ site
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