The Various Changes in the Remuneration Practices in Banks and Other Financial Institutions in the United Kingdom after the Global Financial Crisis

Abstract

The article examines the various changes in terms of regulating the remuneration of various staff in banks and other financial institutions following the financial crisis. It has been established that one of the reasons for the financial crisis is as a result of the irresponsible lending on the part of bankers in return for huge bonuses. The Article looked at the regulation at the European level, the United Kingdom Challenge of the relevant European directives and regulation in relation to the remuneration. Lastly, the article the article juxtaposed between the bankers’ remuneration regulations at the European Union level and that of United Kingdom in terms of the recent regulatory regime. It argues that the United Kingdom has a more robust legislation not comparable to any other countries within the European Union.