Qualified advisers answering your
Financial Questions
call 0800 092 1245

FSA calls for curb on banking bonuses

Lord Turner, chairman of the FSA (Financial Services Authority), last night called for further curbs on banking bonuses ahead of the forthcoming G20 summer. After a relatively quiet period for Lord Turner, after his ill-advised comments regarding the UK banking industry, it seems as though the UK government and the UK regulator are back on the scene and looking for blood!

However, as yet there is no sign that the UK banks are willing to give in to various demands from regulators and governments and will indeed force them to add new regulations to the statute books. This could be a very difficult task for the regulators, who would have preferred a voluntary arrangement with UK banks, because of various legal loopholes which could be opened up.

Yet again it looks as though banking remuneration packages will be the flavour of the month and hit the headlines ahead of, during and after the G20 conference. Whether world leaders are using the issue to mask their own shortcomings in the short to medium term is another question which is open to debate.

Despite the fact that the G20 leaders have gone on the offensive regarding the worldwide banking sector, there are many areas of unfinished business from the last G20 conference.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details