This is from yesterday’s Telegraph. Marvellous. Bad news for employment lawyers, of course.
This is from yesterday’s Telegraph. Marvellous. Bad news for employment lawyers, of course.
The FT is reporting today that the FSA has finally produced its remuneration code on how bankers should be paid. I have only seen the headlines and brief summary of the proposals, but it seems that the FSA has shied away from being too prescriptive for fear of driving bankers abroad to less tightly regulated markets. Expect a deluge of criticism to fall on top of the FSA, whose days are numbered if the Tories return to power at the next election.
I normally expect to get a lot of enquiries about low or non-payment of bonuses around this time of year. However, it is not normal for the subject of bankers’ bonuses to be front page news or for all three party leaders to jump on the bandwagon and criticise the level of bonus payments. Of course, we’re not living in normal times at the moment and bankers are going to be fair game for the media and politicians.