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<h1>Recovery of remuneration: companies must claw back excess pay from managerial personnel after restated financial statements.</h1> When a company is required to restate financial statements because of fraud or non-compliance, it must recover from any past or present managing director, whole time director, manager, or Chief Executive Officer any remuneration, including stock options, received during the restated period that exceeds what would have been payable under the restated statements.