European regulator approves crackdown on bankers' bonuses

A crackdown on bankers' bonuses was approved by European regulators today in a move to curb excessive risk-taking in the industry.

Bankers will be allowed to receive only 20% of their bonus up-front in cash and the rest either deferred or held in shares for a minimum of three years under tougher guidelines published by the Committee of European Banking Supervisors (CEBS).