UK in legal fight over EU bonus cap

Source BBC News@ tienganhvui.com

25 September 2013 Last updated at 10:33 ET

Big bonuses have been seen by some as driving a risk-taking culture

The UK Treasury has launched a legal challenge against European Union plans to cap the level of banking bonuses.

The cap is designed to come into effect on bonuses awarded from 2014.

It would limit the bonus to no more than a banker's salary, although if shareholders agree it could be higher.

The bonus culture within financial services has been blamed for encouraging excessive risk-taking among bankers.

Đăng ký: Tieng Anh Vui

Posted in: BBC News,World News of the Day