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Bankers’ bonus cap axed in bid to boost UK competitiveness

Panoramic view of the Square Mile
Photo: Getty Images

Jean Hurley

2 min read

UK bankers can make unlimited bonuses again.

On Tuesday, the PRA and the FCA published a Policy Statement (PRA PS9/23 and FCA PS23/15) confirming the removal of the bonus cap for banks, building societies and PRA investment firms from the end of of October. The current rules limit bonuses to 100% of the salary for employees of

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