Banker Pay on Agenda for Barnier Meetings With U.S. Regulators
Michel Barnier, the European Union’s financial services chief, will discuss banker bonuses with U.S. regulators during a visit to the country this week.
The talks may also cover the implementation of bank capital rules agreed to by the Basel Committee on Banking Supervision, and regulation of financial derivatives, the European Commission said in an e-mailed statement.
The Commission has said that it’s weighing tougher rules on banker pay in response to awards which Barnier has said lack “all reason, common sense and morality. The Frenchman will meet regulators including Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy F. Geithner during his two-day visit, which begins on Feb. 23.
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