World Leaders Commit to Rein in Financial Bonuses

The leaders of 20 of the world's biggest economies committed to a laundry list of executive pay reforms for financial firms, including limiting bonuses to a portion of total net revenues and linking them tightly to share prices. But don't count on sweeping mandates from regulators just yet.

Wrapping up a daylong meeting in Pittsburgh, the Group of 20 issued a lengthy statement that, in part, called on member countries and financial firms to end multiyear guaranteed bonuses; pay out "a significant portion" of variable pay over time, tying it to performance and making it vulnerable to forfeit under various conditions; and disclose more information about corporate pay policies.