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U.K. Bonuses Should Be Frozen Until Retirement, Telegraph Says

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July 24 (Bloomberg) -- Bonus payments to U.K. executives should be frozen until they have either retired or left the company, if proposals made by U.K. economist John Kay to reform the U.K. equity markets are accepted, the Daily Telegraph reported.

His report, commissioned by the government, calls for bonuses to be in shares rather than cash, with tight restrictions imposed on selling them, in a bid to restrict short-term profit, the newspaper said.

To contact the reporter on this story: Maria Tadeo in London at mtadeo@bloomberg.net

To contact the editor responsible for this story: Douglas Lytle at dlytle@bloomberg.net