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Investment Banking Bonus Caps: New UK Rulings Explained

UK regulators have given their approval on Tuesday to scrap the cap on bonuses for investment bankers.

London's Canary Wharf: A New Era for UK Investment Banks as Bonus Cap Scrapped. PHOTO: Damian.Lor/Shutterstock
London’s Canary Wharf: A New Era for UK Investment Banks as Bonus Cap Scrapped. PHOTO: Damian.Lor/Shutterstock

The cap was proposed by the government in 2020, under Liz Truss, limiting bonuses to twice a banker’s base salary.

The Prudential Regulation Authority (PRA) announced that the cap will be lifted on October 31st,

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