Bonus Watch '16: Hillary Would Cut Bonuses At Banks Paying Fines For Wrongdoing (So...All Of Them)

Listen up, because this literally applies to all of you.
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Are you a senior executive at a bank that has, in recent years, ponied up some money for doing some, let's just call it, illegal sh*t? If anyone is having trouble jogging their memory re: whether or not their institution has found it necessary to pay the government to make certain legal troubles go away, a quick refresh: if you work Goldman Sachs, JP Morgan, Bank of America, Citigroup, Wells Faro, Deutsche Bank, Barclays, Credit Suisse, UBS, the answer is yes. (Drilling down to a more micro level, BofA, has in fact, paid a fine every 30 minutes over the last 5 years, with JP Morgan in a close second.) Anyway, should you and your firm keep doing what you're doing, there will maybe be consequences to pay under President Clinton, who says she's planning to run a much tighter ship.

Hillary Clinton, the Democratic frontrunner for president, said Monday that when corporations pay government fines for wrongdoing, the companies should reduce the bonuses of executives who “should have been accountable or should have caught the problem.” In a wide-ranging question-and-answer session on Facebook, Mrs. Clinton also proposed increasing rewards for whistleblowers at financial firms, and she explained why she thinks the capital gains rate should go up for short-term investments.

Clinton: Companies Fined for Wrongdoing Should Cut Executive Bonuses [WSJ]


Bonus Watch '13: UBS

The Swiss bank will reportedly announce today that it's going to be doing things a little differently around here re: compensation. One, deferrals will start at $250,000 and two, rather than being paid in UBS stock, the non-cash portion of 6,500 senior employees' bonuses will come in the form of subordinated debt that can and will be wiped out in the event the amount of capital on hand falls below the level required by EU regulators, putting the onus on everyone to make sure no one pulls an Adoboli and avoids multi-billion dollar fuck-ups in general.

Bonus Watch '13: Deutsche Bank Is Mulling Over The Idea Of Paying A Li'l Less This Year, Would Appreciate Rivals Throwing Them A Bone And Doing The Same

The Germans might take an ax to bonuses, cutting them by 20 percent, or they might not. According to CEO Anshu Jain, what it may come down to is whether or not other banks will help him out here by getting on board with the proposed reductions, as it would make DB look bad to be the only firm doling out tough love this year. Thanks in advance.