FSA issues code on bank bonuses
The UK Financial Services Authority (FSA) published on Wednesday its final remuneration code on bankers' bonuses.
The FSA said the new rules will force bank boards to focus more closely on ensuring a firm's wage bill is consistent with good risk management and sustainability, and that individual compensation practices provide the right incentives.
The regulator also said the code made clear that it was not expected that firms would enter into contracts with individuals which provided guaranteed
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