Eu reaches deal to cap banker bonuses
EU reaches deal to cap banker bonuses Updated: 05:31, Friday March 1, 2013 The European Union will cap bankers' bonuses, which critics say played a major role in driving the global financial crisis, as part of new tougher rules on the banking sector.
UBS AG said Monday that starting next year it will stop making bonus payments to its chairman and that other top executives will be penalized if the bank performs badly to discourage irresponsible risk-taking.