England Bank Floats Reg To Clawback Bad Bankers' Bonuses

Law360, Los Angeles (March 13, 2014, 3:52 PM EDT) -- The Bank of England pitched a regulation Thursday that would enable banks to clawback the bonuses of bankers deemed responsible for making bets that harm their business units or put their financial institutions at too great a risk.

The bank’s regulatory arm, the Prudential Regulatory Authority, set forth a plan that would prompt banks to take back bonus money from bankers who misbehave, trigger a “material downturn” in the financial performance of their units, or cause failures of risk management in their departments, according to the...
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