Swiss regulators in bonus crack down

SWITZERLAND&rsquo;S financial regulator is proposing new rules to align executive reward more closely with long-term profits and will pay special attention to UBS, the Swiss bank bailed out by the government.<br /><br />The Swiss Market Supervisory Authority, known as Finma, said it would tighten up rules in remuneration by January 2010, to prevent companies from offering incentives for excessive risk-taking.<br /><br />But while most firms will have nearly a year to comply with the rules after a consultation period ending this August, UBS will have to comply before the end of the year.<br /><br />UBS has been forced to scale back its rewards system after it sold a Sfr6bn (&pound;3.4bn) bond to the Swiss government last year .