UK Treasury Committee criticises FSA's approach to bonuses


LONDON - The UK House of Commons Treasury Committee has called for more emphasis on remuneration reform in the regulatory response to the global financial crisis.

In a recently released report, 'Banking crisis: reforming corporate governance and pay in the city', it criticises the Financial Services Authority's (FSA) Turner Review, released in March, for understating bonus culture's role in the crisis, and suggests the UK regulator is not addressing the problem.

"Bonus-driven remuneration struct

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