Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Loan Protection: Majority of banks will not be subject to new bonus rules

The majority of UK firms will not be subject to new rules which will aim to restrict banker bonuses, it has been revealed.

The Financial Services Authority (FSA) has released an updated version of its regulations which shows that only major UK banks will have to comply with the guidelines laid out by the Committee of European Banking Supervisors (CEBS).

It means small businesses such as hedge funds and asset managers, as well as banks with small turnovers, will escape the rulings.

In the new remuneration code, major banks will have to curb the bonus packages awarded to staff up-front in cash.

Despite the change, all firms will have to ensure that any guaranteed bonuses will have to be issued across a whole company rather than specific divisions.

Those companies which are already subject to the FSA's existing code will have to comply with the new rules from January 2011, while companies who are coming into the regulator's code for the first time will have to do so by July.

Posted by John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance ADNFCR-2776-ID-800299560-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide