Differing pay rules raise concerns at international banks

10/30/2009 | Financial Times (tiered subscription model)

The UK Financial Services Authority has taken a hard stance on compensation policies, while the US Federal Reserve's approach is more flexible, creating issues for banks that operate in both countries. "We have legitimate concerns on how we can pay our people fairly," a senior banker at a large US bank said. "The FSA appears to be more heavy-handed than the Fed, so which guidelines should we be following?"

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