Bonus Curbs Under Threat From EBA Plan, Lawmaker Tells Barnier

European Union rules to cap banker bonuses at twice fixed pay may be undermined by recommendations from a regulator that would create wide-spread waivers to the curbs, a European Parliament lawmaker said.

Technical proposals made by the European Banking Authority contradict “the spirit, if not the letter,” of the EU plans by providing too much scope for exemptions, Philippe Lamberts, a Belgian lawmaker who led work on the rule for the parliament’s Green group, said in an e-mail to Michel Barnier, the EU’s financial services chief.