-EU bonus cap could affect 35,000 employees worldwide, says British Bankers Association.
Global Banking News - 05 September 2013
The European Union cap on bonuses could potentially affect 35,000 employees across the globe, says the British Bankers Association.
The proposed cap aims at sealing bonus at twice the recipient's annual pay. This would affect 23,450 bankers in UK, 2,835 in other EU countries, and 8,777 around the world according to the association's report.
The BBA has requested that the regulator delays the introduction of the rule for a year.
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