EU To Review Bailout Banks' Bonus Structures

Law360, New York (September 11, 2009, 12:51 PM EDT) -- The European Union's competition watchdog plans to pay close attention to banks' bonus structures and whether they promote long-term profitability as it decides whether to approve the banks' restructuring plans, European Commission Competition Commissioner Neelie Kroes said Friday.

Many governments have given the EC “a series of commitments” on how to frame bonuses and pay for banks that received state aid, Kroes said at the opening address at the 13th annual Competition Conference of the International Bar Association in Fiesole, Italy, on Friday.

Restructuring banks will...
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