Regulator concerned over practice of changing jobs to avoid any potential clawback of pay in future years Errant bankers will no longer be able to avoid having their bonuses clawed back by moving jobs, as fragment of a fresh attempt by the Bank of England to curb wrongdoing in the City.
Threadneedle Street wants to clamp down on the practice of bonus buyouts - when fresh employers hand over big payments to compensate for outstanding bonuses which would otherwise be lost when bankers switch jobs. Continue reading...
Source: theguardian.com