Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Loan reclaim: UK Banks to 'avoid' EU bonus caps

UK banks will easily avoid new European Union regulation which caps banker bonuses by raising salaries and adapting reward schemes, according to experts.

The European Parliament voted overwhelmingly in favour of restricting bonuses so staff only receive 30 per cent in cash up-front with the remaining amount dependant on company performance.

However, many financial analysts believe bankers will still receive excessive remuneration packages as firms will simply change their payment structure.

Mercer, the business consultancy, found that 70 per cent of financial institutions had already increased salaries to reduce the effects of bonus cuts, reports City Am.

A leading politician, who insisted on remaining anonymous, told the news provider: "They [the banks] will easily get around it," by increasing cash bonuses and linking the remaining funds to unattainable targets.

The new legislation will come into effect next year.

Posted by Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking ADNFCR-2776-ID-800001242-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Financial Conduct Authority in respect of regulated claims management activities; FRN:838450

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide