The Financial Stability Board said EU banks are at a disadvantage in attracting talent because their pay and bonus rules are stricter than those of rivals in Asia and North America. The board said regulators in Japan, Hong Kong, Australia, Canada and the US offer banks "more flexibility" when implementing global rules on bonuses. The FSB also said there isn't clear evidence that major global banks are poaching talent from rivals by bending the rules.

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Bloomberg, Reuters

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