February 27, 2013 / 11:51 PM / in 5 years

EU banker bonuses to be capped at level of salary -lawmaker

BRUSSELS, Feb 28 (Reuters) - Bankers face a cap on bonus payouts at the level of their salary under an agreement reached between EU country representatives and the European Parliament, Othmar Karas, the Austrian lawmaker who helped negotiate the deal, said on Thursday.

“For the first time in the history of EU financial market regulation, we will cap bankers’ bonuses,” Karas said in a statement, adding that if a bank’s shareholders decide, that cap can be raised to double the salary.

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