Global bankers face ‘scorecard’ test to justify bumper bonuses
BERNE: The Basel Committee on Banking Supervision yesterday set out tough new proposals to force banks to provide full details of all the money paid in bonuses and incentives.
Under the so-called Basel III rules, international banks will have to provide a "scorecard" for each banker to prove they deserve a bonus.
They will also be forced to disclose how much of the bonus bankers will be getting in cash and suggest ways of clawing back the money if the bank's performance suffers. -PB News