UK regulator sets out plans for earlier banker bonuses

Quick Summary:

The PRA was “looking carefully at the vast corpus of existing legislation” to look for ways to “tailor and refine” while “maintaining safety and soundness”, he said, adding that it would also “streamline” the regime to hold senior bankers more accountable for wrongdoing.

Bankers would also be able to receive some of their bonus in the first year, instead of having to wait three years.

He said the overall bonus deferral period would be shortened to five years for the most senior bankers and four years for some other executives.

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Article Details

Author / Journalist: Martin Arnold

Category: MarketsFinanceInvesting

Markets: United States

Topics: Bonus Financial Bankers Rules Senior Years Bonuses Proposals Growth Part Woods

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 10:10:46 (2 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 715 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23134877

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About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Year Established: 1888

Headquarters: United States

News Last Updated: 1 days ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

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News Language: English

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Publisher ID: #3

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