Bankers’ bonuses across Europe would be capped at no more than their fixed salaries under strict new curbs sought by senior law makers in response to continued public anger over financial sector pay.
In a sign that Brussels is hardening its stance on banker pay, European Union parliamentarians are drawing up new caps on bonuses to be included in the bloc’s latest bank capital rules.
The move comes as research from the pan-EU banking regulator reveals huge disparities in bonus sizes across the region and big differences in enforcing existing EU pay rules, which limit the upfront cash portion of a bonus to 25 per cent of the total.
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