The Institute of International Finance issued a report that says banks would like regulators to globally coordinate rules on bankers' compensation. "It's important that the authorities ensure a level playing field across the world," said Klaus-Peter Mueller of Commerzbank. The report comes as the UK announces plans to levy a tax on bankers' bonuses. "Tax is a very blunt instrument to use," said Richard Waugh, CEO of Bank of Nova Scotia. He said the move might have unintended consequences.

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