Bankers May Need To Return Bonuses

Bankers May Need To Return Bonuses.

New rules from the Bank of England (BoE) mean that bankers may have to return bonuses issued from up to 6 years ago.

The rules will allow the Bank to issue a return of the bonuses paid to bankers in the event of misbehaviour, misconduct, bad risk management or if the bank reports big losses.

There have been new rules introduced all over the banking sector after banks needed bailing out by taxpayers following the banking crisis.

Even bankers who may have spent the money are not safe and could face a request for the return of the bonus.

The banking sector has not had a strong trust from tax payers since the banking crisis, with many feeling they are unable to trust their own bank, new rules will mean a tighter banking sector with misconduct being penalised.