If BOE Had Its Way, You’d Be Having Night Sweats About That Night Back In 2008 When You Went Back To The Office After Happy Hour And Woke Up 6 Hours Later With Your Face On The Keyboard And An Order For 7.3333333333333 Barrels Of Crude Oil ProcessedBy Bess Levin
Or, um, something like that.
The central bank’s proposed rules on bonus clawbacks would allow lenders to retrieve bonuses for up to six years after they’re paid, starting Jan. 1, 2015, the Prudential Regulation Authority, a unit of the BOE, said in a statement today. “We won’t allow remuneration schemes to exist that encourage behavior likely to jeopardize financial stability,” PRA Chief Executive Officer Andrew Bailey said. “We have an objective to ensure the safety and soundness of the firms we regulate.”