Filed under: Management, Industry, Scandals

President Nicolas Sarkozy of France imposed tough curbs on bank bonuses. He ruled that brokers and traders defer their bonuses over three years and be paid only on performance.

Later this month, the G20 nations meet in Pittsburgh. Sarkozy wants his proposal for bank bonuses on the agenda. France wants three options debated:

• A maximum ratio of a bank’s gross operating income to be earmarked for variable pay.
• A special tax on the financial sector whose revenues could be channeled into national schemes for insuring retail bank deposits.
• A straightforward limit to bonuses in terms of value.

Continue reading Sarkozy gets tough on bank bonuses and presses the G20 to follow suit

Sarkozy gets tough on bank bonuses and presses the G20 to follow suit originally appeared on BloggingStocks on Wed, 02 Sep 2009 14:00:00 EST. Please see our terms for use of feeds.

Permalink

Share This

Share This

This entry was posted on Thursday, September 3rd, 2009 at 11:55 pm and is filed under Industry News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.