German watchdog takes aim at banker bonuses

Discussion in 'Professional Trading' started by ASusilovic, Aug 16, 2009.

  1. Bankers who take unjustifiable risks in business deals will be forced to repay their bonuses under new rules unveiled by German financial watchdog Bafin on Friday.

    "Aggressive compensation systems, along with other factors, contributed to the financial crisis in that they set the wrong incentives," Bafin said in a statement on changes it is making to its Minimum Requirements for Risk Management standards.

    Rewards based on short-term success spurred bankers to take unreasonably big risks but this practice would be eliminated under the new rules, the agency said.

  2. The only German watchdogs we need are these

  3. Will headhunters in the US soon be flooded with resumes' from German "financial professionals"? :eek: