UK Treasury demands veto right over RBS bonuses

12/2/2009 | Times (London) (subscription required), The

The UK Treasury took control of Royal Bank of Scotland's bonus pool, setting up Chancellor Alistair Darling for a battle with the largest institutional shareholders in the City. Investors said RBS' ability to compete is being compromised by the Treasury's move. The bank generally determines its bonus levels at year-end.

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