Bonus caps

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The UK has told the Brussels' financial watchdog it will not comply with EU rules that would force the bonus cap that applies to the big banks on. Most significantly for banks, the Guidelines stamp out the use of certain “ allowances” that regulators thought were being used to circumvent the bonus cap. Bankers' salaries are rising because of the EU's bonus cap, the Bank of England has suggested, as financial institutions refuse to cut payouts in.

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