UK Bankers Face Longest Bonus Clawbacks.
Staff at British banks could be made to hand back bonuses more than six years after the money has been paid to them under a regime that will amount to the world's toughest rules on clawing back remuneration.
Sky News has learnt that the Bank of England (BoE)'s Prudential Regulation Authority (PRA) has decided to enforce, and potentially augment, a draconian proposal outlined in March.
In a policy statement to be published on Wednesday, it will confirm that banks will have to amend the employment contracts of senior staff in order to implement the new rules, which will come into force on January 1 next year.
original post found herhttp://news.sky.com/story/1309490/uk-bankers-face-longest-bonus-clawbacks
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