Major setback for the UK's bonus cap challenge

20 Nov 2014
employment

An Advocate General of the European Court of Justice (ECJ) has given his opinion that the EU bonus cap is valid, hammering a further nail into the government’s attempt to limit the impact of the cap on the UK’s financial services sector.

As we have previously reported, the fourth amendment to the Capital Requirements Directive (“CRD IV”) requires banks, building societies and investment firms to cap the amount of bonus...

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