Skip to content
Subscriber Only
Business
Economics

U.K. May Extend Bonus Rules on ‘Shocking’ Market Abuse

Updated on

Bank of England Deputy Governor Minouche Shafik said benchmark rigging and other misconduct must be stamped out as the institution raised the prospect of extending bonus clawbacks to brokers and trading firms.

Describing the behavior of some traders as “truly shocking,” the head of markets and banking at the BOE said confidence in fixed income, currency and commodity markets has been damaged by “unacceptable abuses.”