China demands banks curb executive pay.
M2 EQUITYBITES-June 14, 2022--China demands banks curb executive pay
(C)2022 M2 COMMUNICATIONS http://www.m2.com
Global Banking News - 14 June 2022
Chinese authorities have called on banks to curb executive pay.
Local and foreign banks have been asked by authorities to contain executive pay levels in order to promote so-called 'common prosperity.'
On Friday, the Asset Management Association of China made a similar call to fund houses. According to the AMAC's new rules, at least 40 percent of bonuses paid to senior staff should be deferred for three or more years...
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