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Commission moves to cap bankers' pay across EU – IT

04 November 2011

BANKERS’ BONUSES and golden parachutes would be capped in all European Union countries under a draft policy circulating in Brussels that amounts to one of the broadest responses yet to concerns about executive pay.

Under the European Commission recommendations, a copy of which was seen by the Financial Times, all 27 EU countries would be asked to bring in tougher remuneration rules for financial institutions with an office within their borders and covering all staff whose activities affect the firm’s risk profile.