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New rules for bankers' bonuses come into force

New EU rules came into force over the weekend designed to limit the size of bankers' bonuses.

Bonuses for bankers in Europe will be capped, with at least half paid in shares or contingent capital.

Also, in a bid to stop what is perceived as the rewards for risk taking culture, up to 60% of the bonus will be deferred for at least three years.

But critics say Europe will suffer as bankers will simply move elsewhere, Ashleigh Nghiem reports.

  • 03 Jan 2011