The Financial Stability Board (FSB) has launched its second probe into bonus culture and invited financial service providers to submit their views.
The latest review is to assess how well the FSB's rules governing bonuses and other staff compensation have been taken on board by individual countries and institutions. In particular, the FSB wants firms, regulators and trade associations to alert it to gaps in regulation, challenges firms face in implementing its rules, and the evolution of market practices in compensation. All large financial institutions and national regulators, including the FSA, must comply with the international FSB's Principles for Sound Compensation Practices. Under the Principles, financial institutions m...
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