March 10th in Bonuses, Boys' Toys, Regulation by jason2009 .

New Disclosure Rules for £500k Bankers

The goalposts they are a moving…

Charles Tyrwhitt UK
 

Last year, banks disclosure proposals included the number of employees earning 1 million pounds to 2.5 million pounds, 2.5 million pounds to 5 million pounds and more than 5 million pounds.

Those were set out in a government-commissioned report published by Morgan Stanley Senior Adviser David Walker last year. But now that an election is just round the corner, politicians are ignoring the experts and changing the goalposts in order to woo envious voters.

Bloomberg: The U.K. intends to force banks to increase disclosure on compensation, lowering the bar on reporting bonuses to 500,000 pounds ($746,000) from 1 million pounds, U.K. Treasury Minister Paul Myners said.

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Don’t worry though, if you are lucky skilled enough to be earning that much, your neighbours shouldn’t find out that you are disgustingly rich – workers won’t be identified personally. That is unless you put in an order for the ridiculous WHY yacht/island-substitute in the picture.

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