News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Banks given four weeks to respond to new FSA bonus rules

The FSA has said it will require banks to submit documents three months before bonus awards are made and hold meetings with supervisors before they are approved, with just four weeks to respond to the planned changes

Banks under the scrutiny of the Financial Services Authority have been given four weeks in which to respond to changes being considered to the way the watchdog scrutinises bonus payments.

In a draft letter made public by the regulator today, the FSA said it would review banks' bonus policies for 2012 before authorising payouts.

WSJ Logo