HONG KONG -- Hong Kong's banking regulator moved to tighten its oversight of banking-industry compensation in line with the U.S. and the U.K., unveiling rules on Thursday that would limit how salaries and bonuses are paid to top bankers.
Hong Kong regulators stopped short of prescribing particular remuneration levels, or placing any caps on individual pay. But under the proposed rules, guaranteed minimum bonuses would be banned except in exceptional cases, while top executives should have at least 60% of their bonuses subject to deferral for at least three years, with a clawback policy in the event of future losses.
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