Bonus crackdown raises staff-retention problems


WASHINGTON DC, NEW YORK & LONDON - News that AIG plans to hand out $165 million in bonuses despite accepting a record $170 billion in federal aid was destined to fray political and public tempers. President Obama has already pledged to recoup every government dollar given to AIG and subsequently squandered on executive bonuses. The House of Representatives has agreed to taxing bonuses at state-funded banks with a 90% surcharge. Such a measure might rein in compensation packages, but it will also

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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