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Adviser to EU top court's backing of bonus cap a blow to UK

Published Thu, Nov 20, 2014 · 09:50 PM
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London

BRITAIN'S relations with the European Union (EU) took another knock on Thursday when its legal challenge to a limit on bankers' bonuses was rejected by an adviser to the bloc's top court.

The EU law aims to curb the kind of risk-taking that led to the financial crisis by limiting bonuses awarded from 2015 to a sum no more than a banker's fixed pay, or twice that level with shareholder approval.

Britain, home of Europe's largest financial centre, said that the law will push up fixed pay and goes…

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