fromBusiness Matters
1 week agoBankers to receive bonuses faster under post-crisis rule change
From Thursday, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will reduce the bonus deferral period for top banking executives from eight years to four, allowing partial payouts to begin in the first year rather than year three as previously required. The move is part of a broader effort to make the UK financial sector more competitive internationally, bringing bonus structures closer in line with those in the US and Asia, where deferrals are generally shorter - or, in the case of New York, not required at all.
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