As for rules on bonuses for bankers, Italy is still behind. Leading by example is the UK, who aiming to make London the pivot of the Capital Market Union, the new objective of the EU after the banking union, are preparing "the strictest regulation in the world on bankers' compensation".
La Bank of England it has therefore decided that seven years to recoup the bankers' bonuses (as for example for manipulations on rates and other financial products, as happened recently) were not enough, and now intends to increase them to ten. "The measures under study - says the British central bank through the words of a spokesman for the Treasury - strengthen the link between compensation and performance, to give full awareness to bankers that their bonuses risk any case of misconduct".
The British legislation will therefore be more advanced than the Italian and also European ones, which in terms of "clawback" (this is how compensation on fees is called) is vague and left to the individual institutions, while the deferrals are 40% and up to three years.
