EU regulators confirmed that they will cap bonuses of bankers earning more than 500,000 euros (HK$5.0 million) a year and added other conditions to make the pay ceiling harder to smash.
The headline figure was leaked last Friday, triggering warnings by banks in the European Union that they may lose staff to other parts of the world, and that London, the bloc’s top financial centre, could be damaged.
Accounting firm PwC predicted that the number of London bankers affected will be 10 times the number hit by current pay curbs.
via Business feed http://www.scmp.com/business/banking-finance/article/1243313/eu-watchdog-unveils-caps-bank-bonuses
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