Bank Bonuses That Aren’t Called Bonuses Banned in EU Move to Impose Bonus Limits

Europe’s top banking regulator moved to close a so-called loophole that allows banks to sidestep limits on bonuses by awarding staff payments under different names.

The European Banking Authority said 39 banks in the European Union are paying staff discretionary role-based payments, they classify as fixed pay, in addition to their salaries. These awards break EU bonus rules because they were found to be neither fixed nor permanent in “most cases,” the London- based regulator said in a report Oct. 15.

Bid to Curb Gambling Incentives.

EU lawmakers last year adopted the world’s toughest bonus rules in a bid to ...