The head of the FSA, Hector Sants, says politicians must take responsibility for setting pay caps if they deem them "morally" necessary, and that not only bankers should be subject to such restrictions, reports the Telegraph.
The Government "must decide if they wish to single out bankers as different from other people, and breach the current consensus that pay caps are not set for individuals as long as the pay is genuinely earned and deserved," Mr Sants said in a BBC radio interview. "It would not make sense to debate it for bankers alone. It's a wider social issue," he added. Full story...
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