Brown hints at cap for bankers' bonuses.Summary: Gordon Brown has said there should be a "clawback Clawback 1. Previously given monies or benefits that are taken back due to specially arising circumstances. 2. A retraction of stock prices or of the market in general. Notes: 1. " system for bankers' pay if deals go wrong. Gordon Brown has said there should be a "clawback" system for bankers' pay if deals go wrong, as he pledged to speed up reform of financial markets. Speaking to the Financial Times, the Prime Minister also aired the possibility of a cap for bonuses, saying they should be based on long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. performance rather than short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. speculation. He told the FT: "I understand all the difficulties because we're dealing with very many global financial centres, but I think you've got to be absolutely clear that remuneration REMUNERATION. Reward; recompense; salary. Dig. 17, 1, 7. has got to be based on long-term success, not short-term speculative deals. "There's got to be a clawback system in remuneration itself, so that if things are not working in year two then there is a clawback that is possible." Mr Brown added: "I would add a further thing that there is a debate, of course, about caps on bonuses and everything else. But I think it's true to say that the debate will move on to whether the bonuses that are paid are, in general, too high a proportion of company revenues and profits." His comments come amid evidence that the bonus culture is already returning, less than a year after the near-collapse of the international financial system. The investment banking arm of Barclays, BarCap, has reportedly tried to poach poach damage caused to sodden pasture by the hooves of cattle and sheep. In clay soils and when the ground is sufficiently wet the damage caused by a heavy stocking rate of sheep may be very high. Said also of the take-off in front of a jump in an equitation course or a race. a team of five commodities traders Traders Individuals who take positions in securities and their derivatives with the objective of making profits. Traders can make markets by trading the flow. When they do this, their objective is to earn the bid/ask spread. by offering them a package worth up to Au30 million in salary and bonuses. Independent Television News Limited 2009. All rights reserved. Independent Television News Limited 2009. All rights reserved. Provided by Syndigate.info an Albawaba.com company |
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