Submitted by demo_admin on Thu, 11/20/2014 - 17:02
BRUSSELS - The UK is set to lose its legal battle to overturn EU rules capping bank bonuses after a top legal officer in the European Court of Justice (ECJ) said London's case had "no legitimate grounds".
The rules, which came into force this year, limit bankers' bonuses to the equivalent of their salary. Payments worth up to two times salary may be permitted but only on the basis of a vote by shareholders.
