Bank bonuses could be clawed back up to six years later under proposed rules

PRA rule will cover wrongdoing or big errors by employees, major financial problems and failures of risk management Banks will be required to overhaul senior executives' employment contracts so that bonuses can be clawed back up to six years after payments are made, under proposals announced by the Bank of England. The proposed rule is set to take effect at the start of next year and will cover wrongdoing or big errors by employees, major financial problems and failures of risk management at a c...