Regulator of the year: Mark Carey

Work on incentive reform was well received


The effort to rein in and reform compensation processes at banks has been bigger than any one person or even any one institution. It started at the nadir of the economic downturn in early 2009, when the Financial Stability Board (FSB) published "Principles for sound compensation practices"; later that year, other regulatory groups, including the Committee of European Banking Supervisors (now the European Banking Authority) and the UK Financial Services Authority (now split into two separate

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