Robin Chater questioned why banks have not challenged the bonus cap
The head of an
international body representing employers has attacked the plan
to cap banker bonuses in Europe and questioned why investment
banks have not challenged the move.
the secretary general of the Federation of International
Employers, told a financial forum on Friday banks should
stand-up to the European Union over its cap of bankers'
"The fact that
the European Banking Authority has not produced its final
guidelines on the bonus cap has not prevented them from trying
to apply pressure on banks and the Bank of
England’s Prudential Regulation Authority to
introduce an effective cap now. Unfortunately, many banks are
not fully standing up to the EBA and are instead seeking to
maintain "role-based allowances" for senior personnel," said
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.