No more 'rewards for failure', experts urge

Brockett, James
November 2008
People Management;11/27/2008, Vol. 14 Issue 24, p7
The article suggests that banks in Great Britain should structure bonuses so they can be claimed back in the event of losses, according to experts. The Treasury select committee agreed that a reform of bonuses was needed in the wake of the financial crisis but differed on how to achieve this. According to Labour Member of the Parliament Michael Todd, there was a case for contractual "clawback" of bonuses for executives of failed banks.


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