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PPI Claim News - 19/11/2009

PPI Reclaim: Top banker slams bonus curbs

A leading banker has slammed the government's plans to stop bonuses which encourage risk in the financial services sector.

Sir George Mathewson of Royal Bank of Scotland (RBS) criticised proposals for the Financial Services Authority (FSA) to have a greater role in supervising bonuses, describing them as a "dangerous route to go down".

He told the BBC: "I also think the FSA has enough tools already in order to ensure bonus systems which could be said to threaten the [overall financial] system should not exist."

Mathewson was chief executive of RBS from 1992 to 2006, and led the bank's acquisition of NatWest in 2000.

Last month, a new study by the Centre for Business and Economics Research (CEBR) found that bonuses are set to increase both next year and in 2011.

If you would like to get your payment protection insurance back - PPI Claim from the Royal Bank of Scotland then fill out the Quick Claim form or call Belmont Thornton on 0845 526 0000 for PPI claim advice.ADNFCR-2776-ID-19469408-ADNFCR

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