Bankers Face Decade Bonus Clawback in BOE Misconduct Rule
The Bank of England in London.
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Senior bankers found guilty of misconduct by regulators could be forced to pay back bonuses as long as 10 years after they were awarded under new Bank of England rules.
The BOE said that it would also seek public input on curbing so-called buyout arrangements whereby a new employer compensates bankers for bonuses they were in line to receive had they stayed in their old job. The BOE said the measures would promote better conduct in financial institutions.