Bonus warning.THE head of the City watchdog warned banks against a return to the days of risk-fuelled bonuses as the regulator prepares to lay out new strictures on pay. The Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh. (FSA FSA Financial Services Authority FSA Food Standards Agency (UK) FSA Farm Service Agency (USDA) FSA Financial Services Agency (Japan) ) will publish a code of practice for banks on salary and bonus polices this week following a consultation launched in February. It follows fears that banks could resume the pay practices which were a key factor in undermining the financial system and tipping the economy into recession. |
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