European regulators plan tougher than expected restrictions on bankers’ pay, in spite of concerns raised by French, UK and Spanish officials that the rules could make the European Union uncompetitive, people familiar with the talks said.
The Committee of European Banking Supervisors – made up of representatives of all 27 EU countries – has been meeting in London to implement the tough pay rules agreed by the EU over the summer.
Discussions concluded late on Thursday and the group is due to issue draft regulations within days. The document will be the basis of a one-month consultation with the industry.
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