Deputy governor Andrew Bailey wants the bonus deferral period to be pushed out further than the the current minimum of 3 years, he told ITV news.
“We need a longer period, because we know from experience that problems at banks can emerge with longer delays”
On the whole I agree with bonus deferring but have one issue. If there has been some sort of monumental fudge up at a bank then the regulators should be more concerned with their own inaction and inability to have seen the problem in the first place. Yes people can hide things but the tendrils of the regulators are deeply entrenched in the financial world and are going deeper. There should be culpability both ways.
