The UK has abandoned a cap on bankers' bonuses , in its latest push to boost the competitiveness of London's financial industry following Brexit.
The rule limiting banker bonuses to two times annual base pay was introduced a decade ago in the wake of the global financial crisis when the country was part of the European Union. It will be scrapped from October 31, the Prudential Regulation Authority said Tuesday.
Publisher: CNN
Date: 2023-10-24T15:47:34Z
Author: Hanna Ziady
Twitter: @CNNbusiness
Reference: (Read more) Visit Source
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