FSA backs away from recommendations on bankers' bonuses

The UK Financial Services Authority is expected to reveal its final remuneration code today, which orders banks to tie pay and risk, but the watchdog stepped back from a previous recommendation on a specific structure for bankers' bonuses. Sources said the FSA is trying to avoid undermining the international competitiveness of the UK. A March draft of the code recommended deferring part of each banker's bonus and that the overall performance of the company be considered.

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