FDIC shows hand on remuneration rules
FDIC shows hand on remuneration rules
US regulators have taken the first steps to building new rules on remuneration, which Deloitte says will result in dramatic changes.
The Federal Deposit Insurance Corporation (FDIC), in congress with five other US regulators, has approved a joint rulemaking on the remuneration schemes of banks, credit unions and broker dealers in the US.
Under the proposed rules, “designated executives” at banks with assets of more than $50 billion will be required to defer at least 50% of incentive-based
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