Great Britain: code of practice on remuneration policies in banks

he bonuses awarded in banks with high losses, the Financial Services Authority (FSA) proposes a code of practice on remuneration policies for employees. This code is currently subject to consultation through March. (Ref. 090257)

Instead of
limiting bonuses, the FSA suggests that businesses
base them on the profits of a long-term activity and not the performance
of a team. The aim of this code – the final draft of which will be written
after the consultation – is to “ensure that firms have...