Bonuses Are Off Limits

Posted on October 21, 2009 by Stacey Szulka

Major overseas banks operating in London have agreed to implement rules on bankers’ pay pursuant to the G20 recommendations. While there are no enforced caps on bonuses, the Financial Services Authority rules on banker’s pay which take effect in January, say that bonuses should not be guaranteed for more than a year and that senior employees’ bonuses should be spread out over time.

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