IIF: banks must do better on disclosing pay practices

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A new industry report from the Institute of International Finance (IIF) and consultancy Oliver Wyman suggests banks have implemented some reform but will need to go much further to comply with regulatory rules on pay practices for senior executives and risk takers.

The report says "progress has been slow" on transparency, with most banks falling short of the Financial Stability Board's (FSB) recently released standards. This will need to change if banks are to comply with new disclosure requirem