New rules for City bankers bonuses

Misbehaving top bankers will see their bonuses clawed back up to 10 years after pocketing them, under a new set of rules.

The Prudential Regulation Authority and the Financial Conduct Authority have published a new set of rules for City bankers.

The City watchdogs’ new set of rules are aimed at discouraging the sort of irresponsible banking that led to the financial crisis.

The regulations are set to come into effect on 1st January 2016. One of the changes has to do with the bankers’ bonuses.