EU talks on prop firms leave door open to harsher pay rules

Final law could subject many firms to bonus cap, but even those that escape could struggle

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Ongoing negotiations between European Union legislators threaten to produce stricter rules on pay at principal trading firms than even the European Commission proposal, which includes a cap on bonuses and other awkward restrictions on payments.

Most worryingly for prop traders, possible amendments would impose the bonus ceiling on more firms than envisaged by the EC, creating problems for the sector where profits vary hugely from year to year and payouts fluctuate accordingly.  

“The biggest

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