A plan to give the financial watchdog new powers to tear up bank bonus contracts risks jeopardising the UK's standing as a global financial centre, City figures have warned the Government. Chancellor Alistair Darling is expected to use Wednesday's Queen's Speech to unveil plans for a Financial Services Bill that will hand more powers to regulators to stop mega bonuses. The Bill is due to allow the Financial Services Authority (FSA) to cancel contracts that would see bankers pocket excessive bonuses or pay packages that reward undue risk-taking.
Chancellor Alistair Darling is expected to use Wednesday's Queen's Speech to unveil plans for a Financial Services Bill that will hand more powers to regulators to stop mega bonuses.
The Bill is due to allow the Financial Services Authority (FSA) to cancel contracts that would see bankers pocket excessive bonuses or pay packages that reward undue risk-taking.
Hey, you could put that on an election poster. Peak oil is not an energy crisis. It is a liquid fuel crisis.
