Thousands of bankers could be affected by Europe bonus rules


Thousands of City workers could see their pay curbed by a new European crackdown on bonuses, it emerged on Wednesday.

The Daily Telegraph reports that the European Banking Authority said controversial rules that limit bonuses should apply to more firms, and proposed new restrictions on 'allowances', the payments that many banks have introduced in response to the bonus cap.

In a sign that the plans could open a new rift between Brussels and the UK, the City regulator urged the nearly-1,000 companies that are likely to be affected to speak out against the proposals.

To access the complete Daily Telegraph article hit the link below:

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