CITY VIEWS: WAS THE FSA’S CLIMB DOWN ON BONUSES THE ONLY SENSIBLE OPTION?
ADAM MITCHELL LLOYD’S SYNDICATE
“No. The FSA’s backtrack on bonus regulation wasn’t necessary. In fact, they should be firmer in their monitoring. Remuneration policies need overseeing, and the FSA and the government should both take responsibility to see that bonuses don’t get out of hand.”
BEN LAWLOR ASSET MANAGEMENT
“We’re in a free market, so regulation should be in the interest of the public, without limiting people’s capacity to earn. Individuals who are performing well need to be rewarded, otherwise it will damage London’s reputation as the financial capital of the world.”
“MOODY” MAHMOOD ULTIMATE SECURITIES
“The FSA were wrong to backtrack; bonuses have got out of hand. You can argue that there will be a ‘brain-drain’ if you don’t reward bankers with large remuneration policies, but there will always be people to replace those who leave.”