Let there be comp!

New rules in the UK shed some fresh light on senior-level compensation in the banking industry, but do little to improve regulatory oversight.

Let there be comp!

Bonus season, once the highlight of the year, has become a time of fear, greed and politicians worked into a fever of righteous jealousy. But a rare ray of sunshine into the world of senior bank compensation shows how difficult and pointless further regulation of bank bonuses will be.

The UK’s FSA last year passed a regulation under which banks operating in the country had to reveal the remuneration compositions and totals that were...

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