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Biggest Sovereign Wealth Fund Proposes to Curb CEO Bonus Plans

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Norway’s $915 billion wealth fund proposed reining in long-term incentive packages for chief executive officers, saying a “substantial proportion” of pay should be provided in shares that are locked in for as long as 10 years.

Pay practices should also be simple and avoid putting undue strain on corporate governance and allotted shares shouldn’t have performance conditions and “complex criteria,” the world’s largest sovereign wealth fund said in a report released on Friday in Oslo.