Skip to Primary Navigation

Skip to main content

How employers should navigate the scrapping of the banker bonus cap

A pedestrian crosses the street in view of the City of London skyline
Photo: Hollie Adams/Getty Images

Mardi MacGregor | Fox Williams, Imtiyaz Chowdhury | Fox Williams

4 min read
 Click to share on Facebook (Opens in new window/tab) Click to share on Twitter (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

Now that the cap has been removed, we look at the practical implications for banks, building societies and PRA-designated investment firms.

The Policy Statements issued by the PRA and FCA on October 24, 2023 provided for the cap on banker bonuses to be lifted with effect from October 31, 2023. This change applies to banks, building societies and PRA-designated investment firms. The government indicated in 2022 that it would take this

We wanted to take a

, , , , , , , ,

Get full access, free for a month

Start your 28-day free trial to continue reading and access
all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience