EU to unveil tough new bonus laws

first_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndo Show Comments ▼ Thursday 9 December 2010 9:14 pm EU to unveil tough new bonus laws More From Our Partners Puffer fish snaps a selfie with lucky divernypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and Share center_img whatsapp KCS-content BANKERS are waiting with bated breath today as the EU prepares to unveil a historic crackdown on bonuses that will include rules to defer up to 60 per cent of payouts. The Committee of European Banking Supervisors – an organisation of European regulators – will meet for a second day today to approve proposals that will usher in the most restrictive remuneration laws in the world.Critics say that by going it alone, Europe risks a flight of talent to Asia and America and other countries which are refusing to implement similar rules. The rules come in spite of a coordinated effort by banks to convince regulators to water down some of the more draconian measures, with the industry still in the dark about the details to be announced this evening. They are tipped to include a requirement that only 20 per cent of bonuses can be in cash and that at least 50 per cent must be paid in shares that cannot be sold for a mandated length of time. They will also enforce a deferral period, meaning bonuses must be paid over several years, and a provision to take back money paid to managers whose decisions are retrospectively seen to have caused losses. The announcement will leave the UK Financial Services Authority (FSA) with under two working weeks to decide how the changes will apply to its existing Remuneration Code. whatsapp Tags: NULLlast_img