What Happened When Alex Kenjeev Paid His Student Loan in Cash
Behind the Spritz: What Really Goes Into a Bottle of $100 Perfume
BBC News reported that the Committee of European Banking Supervisors passed a measure to cap European bank bonuses to 30%. This committee is made up of financial regulators from EU's 27 members. Draft regulations will be drawn up within the next few days, followed by a one month discussion.
The specifics of the proposal are:
- Cash bonuses to be capped at 30%.
- A new watchdog would define what a big bonus is.
- Some 40% of normal bonuses would be paid over several years.
- There would be a claw-back mechanism whereby bonus money could be reclaimed based on performance.
The UK and France object to the proposal, saying that it would make Europe uncompetitive.
What measures the U.S. has taken to curb bonuses is not clear. Much of this is being formulated under the newly passed Financial Reform Act. The clock is running down, with bonus monies being allocated before the end of the year. It will be interesting to see how U.S. banks handle the bonus question. So far, it's been kept under the radar.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
