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PPI Claim News - 11/1/2010

Bank Claim: Bonus clampdown on £1 million earners

The Financial Services Authority (FSA) has announced a new clampdown on bankers' bonuses which will hit bank employees who earn more than £1 million through their salary and bonus.

Reportedly, the new crackdown will mean that this group of high earners will be forced to defer the majority of their bonus for three years.

There are as many as 5,000 bankers who earn more than £1 million a year in the City, the Times reports.

By closing a loophole, the FSA's guidance on earnings will now apply to more City workers.

The new measure follows chancellor of the exchequer Alistair Darling's announcement of a 50 per cent bonus tax in last month's Pre-Budget Report, applying to all payments over £25,000.

As much as £40 billion is expected to be paid out in bonuses to bankers by the world's biggest investment banks.

Securities Industry and Financial Markets Association, a group which represents investment bankers, has threatened to launch legal proceedings against the British government over the bonus tax.

For help making a PPI Claim, Loan claim, PPI reclaim, or a credit card charges claim then call Belmont on 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim form, Loan Claim form, PPI reclaim form or credit card charges form.ADNFCR-2776-ID-19551025-ADNFCR

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