TITLE

Reward in banks is flawed, says report

AUTHOR(S)
Phillips, Lucy
PUB. DATE
May 2009
SOURCE
People Management;5/21/2009, Vol. 15 Issue 11, p9
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses a report by the Treasury Select Committee of the British Parliament on the role played by serious flaws and shortcomings in remuneration practices in the banking crisis. According to committee chairman John McFali, reckless and excessive risk taking was caused by bonus-driven remuneration structures. The report also outlines the failures of non-executive directors in determining senior managers' pay. The Financial Services Authority (FSA) was criticized in the report for not giving sufficient priority to remuneration policies.
ACCESSION #
43661237

 

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