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BN 12/13 12:30 Highly Paid Bankers Allowed to Seek Bonus-Cap Waiver, EBA Says
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Highly Paid Bankers Allowed to Seek Bonus-Cap Waiver, EBA Says 2013-12-13 12:43:14.451 GMT
By Ben Moshinsky and Julie Alnwick Dec. 13 (Bloomberg) -- Highly paid finance workers in the EU may be able to seek exemptions from the world’s toughest bonus rules, the bloc’s top banking regulator said. * Banks will be able to ask their national regulator to exempt staff earning as much as 1m euros from caps on bonuses at more than twice fixed pay: EBA * For cases where a banker earns more than 1m euros, the EBA would have to be notified and approve any waiver * Senior managers won’t be allowed to apply for the exemption * Story Link:NSN MXQVQ36KLVS9<GO>
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--Editor: Madeleine Lim
To contact the reporter on this story: Julie Alnwick in New York at +1-212-617-8960 or jalnwick@bloomberg.net
To contact the editor responsible for this story: Madeleine Lim at +1-212-617-2296 or mlim131@bloomberg.net