finance · City PM ↗
Swiss regulators in bonus crack down
Citation-ready fact
Finma will tighten remuneration rules by January 2010
2010 year · rule implementation
Finma, Swiss Market Supervisory Authority
Citation-ready fact
Most firms will have nearly a year to comply after a consultation period ending this August
about 1 year · compliance period
Finma, Swiss Market Supervisory Authority
Citation-ready fact
UBS must comply with the new remuneration rules before the end of the year
at least 1 year · deadline
Finma, Swiss Market Supervisory Authority
Citation-ready fact
UBS sold a bond worth Sfr6bn (£3.4bn) to the Swiss government last year
6 bn · Swiss francs3.4 bn · pounds
UBS, Swiss bank
SWITZERLAND’S financial regulator is proposing new rules to align executive reward more closely with long-term profits and will pay special attention to UBS, the Swiss bank bailed out by the government.
The Swiss Market Supervisory Authority, known as Finma, said it would tighten up rules in remuneration by January 2010, to prevent companies from offering incentives for excessive risk-taking.
But while most firms will have nearly a year to comply with the rules after a consultation period ending this August, UBS will have to comply before the end of the year.
UBS has been forced to scale back its rewards system after it sold a Sfr6bn (£3.4bn) bond to the Swiss government last year .
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