The man in charge of internal markets and services, in his first appearance before a committee of the British parliament on Monday, said he was “not overly impressed” at the idea that that financial institutions could leave such a financial heartland.
Mr Barnier was seeking to defend guidelines issued last week by the umbrella body for bank regulation that would limit cash bonuses at banks at as little as 20 per cent of total pay.
The proposals, by the Committee of European Banking Supervisors, have provoked a storm of opposition from banks, which have lobbied hard with warnings they could drive talent overseas.
© Financial Times
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article