Large banks which were fined by global regulators for FX rate manipulation have deducted a proportion of the cost of the fines from bonus pools, resulting in curtailed remuneration for many executives
Read more"To be clear, no further bonus payments will be made or unvested bonus awards released to those in scope of the review until it has concluded and its recommendations have been considered" - Jon Pain, Head of Conduct and Regulatory Affairs, RBS
Read moreA scathing report criticizing five of the FCA's senior executives including Martin Wheatley is to be issued by law firm Clifford Chance, resulting in loss of annual bonuses. Last year, Mr. Wheatley collected £86,000 in annual bonus
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