Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Banker bonuses now regulated by Spanish law

Source: El Pais - Mon 6th Jun 2011

Spanish government Ministers on Friday approved a decree intending to regulate bonuses paid within the banking sector, which played a huge part in the decline of the world economy over recent years.

The decree involves a European Commission directive that attempts to reduce risks in the financial sector. It also allows the Bank of Spain a greater level of supervision over bankers' salaries and incentives and also aims to regulate certain other practices of the Spanish banks and cajas.

The decree was approved after Brussels allowing the country 2 months to incorporate its directive into Spanish law. The EC says that it wants to tackle "perverse pay incentives by requiring banks and investment firms to have sound remuneration policies that do not encourage or reward excessive risk-taking."

Comment on this Story

Be the first to comment on this Story !!

Recommended Items

Related Blogs