New EU governance rules cap banker bonuses

As part of the Basel III initiative, the European Parliament has reached a provisional agreement, which will enforce restrictions on banker remuneration to ensure that pay does not lead to excessive risk taking.

Due to apply to financial institutions across Europe from 2014, including the 8,000 currently operating banks, the bonus cap will be restricted to a basic salary-to-bonus ratio of 1:1 ... READ MORE

Released by ICSA - Governance and Compliance - 28 February 2013