The City watchdog is considering whether Britain can claim exemption from European laws that will introduce the toughest pay restrictions in the world.
Lawyers at the FSA are exploring the possibility of claiming that the UK financial services sector is already adequately regulated by its own Code. A spokesman for the FSA told The Daily Telegraph: "We are considering the text and how it effects our own Code." A sweeping majority of 625 to 28 Members of the European Parliament on Tuesday approved rules that will severely restrict bank pay. FULL STORY...
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