FSA not taking bank remuneration 'seriously enough'

In its third report into the Banking Crisis, the Committee concludes the banking crisis has exposed serious flaws and shortcomings in remuneration practices in the banking sector, particularly investment banking. However, it is concerned the FSA's Turner Review downplays the role remuneration played in causing the banking crisis and questions whether the regulator is attaching sufficient priority to tackling the issue. Committee chairman John McFall says: "Our report outlines clear failings in the remuneration committees within the banking sector, with non-executive directors all too will...