Regulator to seek EU-wide bank pay rules

Binding rules on pay and bonuses across Europe’s banks and financial institutions would cut risks in the sector, the new European Commissioner for the Internal Market, Michel Barnier, told EU finance ministers at the ECOFIN Council, Brussels, 16 February 2010, as he warned that the Commission might regulate to make management boards stronger and more independent.

Mr Barnier was briefing ministers on his future priorities as Internal Market Commissioner.

European Commission: SPEECH/10/27: Michel Barnier Member of the European Commission responsible for Internal Market and Services Acting without delay to clean up financial markets Ecofin Council Brussels, 16 February 2010 http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/10/27&format=HTML&aged=0&language=EN&guiLanguage=en

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