London - Rules to prevent bonuses from encouraging excessive risk taking at banks should not be extended to junior staff and put Britain out on a regulatory limb, a British government minister said on Monday.
European Union rules on banker pay that are applied in Britain are already the toughest in the world and curb how much of a bonus can be paid upfront and how much must be deferred.
They were introduced after reckless behaviour by bankers led to the 2007 to 2009 financial crisis, with ensuring austerity across Europe also sparking public anger at big banker bonuses.