Financial bonus-control powers skip clawbacks, insurance sector, FSB says
( November 4, 2021, 09:58 GMT | Official Statement) -- MLex Summary: Financial institutions' pay and bonuses don't make widespread use of clawback provisions intended to limit excessive short-term risk taking, the Financial Stability Board has said. Labor laws also inhibit restrictions on severance packages, a routine report said, while regulators were found to have limited powers to check pay at insurers and asset managers. Statement follows. Document attached. ...
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