– The author is a Reuters Breakingviews columnist. The opinions expressed are his own –
Financial Regulatory Forum
FRANKFURT, Jan 19 (Reuters) – Deutsche Bank <DBKGn.DE> is raising fixed salaries for staff and cutting variable pay, Germany’s flagship lender said on Tuesday as regulators and politicians pursue a clampdown on bonuses.
Deutsche Bank said the move arose from a review to ensure pay “remains competitive”. (more…)
By Caren Bohan and Alister Bull
WASHINGTON, Jan 14 (Reuters) – U.S. President Barack Obama on Thursday proposed Wall Street banks pay up to $117 billion to reimburse taxpayers for the financial bailout, as he slammed bankers for their “massive profits and obscene bonuses.”
NEW YORK, Dec 9 (Reuters) – Citigroup Inc plans to pay back TARP by raising money in an equity offering that could be announced as early as Thursday and could be some $20 billion, television network CNBC reported, citing sources.
LONDON, Dec 8 (Reuters) – Britain’s financial watchdog said on Tuesday it had no plans to alter existing curbs on bankers’ bonuses and remuneration, or to extend them beyond the banking sector, until it reviews the rules in the middle of next year.
By Keith Weir and Matt Falloon
LONDON, Nov 18 (Reuters) – Britain’s Labour government promised on Wednesday to halve its huge budget deficit and curb bankers’ pay in the hope of reviving its popularity before a national election next year.
ZURICH, Nov 11 (Reuters) – Switzerland’s biggest banks and insurers will have to adhere to new compensation rules requiring them to defer the bulk of managers’ bonuses and to strictly align pay to performance, Swiss regulators said on Wednesday.
By Karey Wutkowski
CHICAGO, Oct 26 (Reuters) – A top U.S. bank regulator said on Monday that there is “very real concern” that some large financial firms that have received massive taxpayer bailouts could be harmed by the rulings of the Obama administration’s pay czar.Comptroller of the Currency John Dugan said pay czar Kenneth Feinberg has a difficult challenge to both rein in outsized paychecks at the seven firms he has jurisdiction over, while not being so harsh that top performers leave the companies.