European-based banks are bracing themselves for dramatic curbs on pay and remuneration beginning as early as next year. The Committee of European Bank Supervisors, which has been meeting for two days in London, is poised to endorse draft guidelines for senior managers and risk takers on Friday.
Proposals include linking bonus payments to a fixed ratio of salaries and barring big up-front cash bonuses. The rules would apply from January 2011 and could impact the 2010 bonus round.
For more: Global Financial Strategy
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