LONDON: Britain’s top banking regulator has said bankers should be stopped from cashing in shares from their bonus packages for up to a decade, the Daily Mirror newspaper reported yesterday.
Andrew Bailey, Deputy Governor of the Bank of England and head of its Prudential Regulation Authority, was quoted as telling the newspaper he hoped bonus packages would be reworked.
According to other media reports a UK parliamentary commission on banking standards is mulling recommending a delay of up to 10 years before shares in a bonus package can be cashed in.
The commission’s report may be published in the coming days, lawmakers have said, and Bailey’s intervention would lend it heavyweight support.
Reuters
