President Barack Obama plans to unveil a series of new pay curbs Wednesday, including strict limits on executive salaries, the latest salvo from Washington aimed at reining in financial firms receiving federal assistance.

Among the new restrictions being considered is a $500,000 (€385,361) cap on salaries for executives at companies that receive a substantial amount of government aid, according to a person familiar with the matter. Executives would be able to get additional compensation in the form of restricted stock or other compensation that is tied to the long-term health of the company.