Community
Whilst the industry (Bankers) reel over having bonuses clawed back, I begin to ask myself if they really understand the responsibility that they hold?
Making decisions on fixing rates, mis-selling policies and underwriting loans without understanding the underlying risk are all the sorts of activities that got us to where we are now (Lloyds increased its PPI provisions by another £600m today). They are all the sorts of activities that paid good bonuses.
Is the proposed treatment too harsh though?
Whilst there have been a slew of regulatory and legislative sticky tape applied since 2007, this one has the underpinnings of something that would reflect good working practices and the benchmark for where the industry should be.
It does appear that the Monk need not worry just yet.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Rolands Selakovs Founder at avoided.io
14 February
Sergei Grechkin Chief Risk Officer at AIFM Cayros Capital
Katherine Chan CEO at Juice
Laurent Descout CEO at NEO Capital Markets
13 February
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.