Bank Of England's Carney: New Pay Rules May Be Needed

MarketWatch Pulse

Bank of England Gov. Mark Carney said Monday that rules for bankers' pay may need to change to allow for all types of payments to be taken back in cases of wrongdoing, according to a Reuters report. Carney was speaking at an event in Singapore. "Standards may need to be developed to put non-bonus or fixed pay at risk," Reuters quoted Carney as saying. Some banks have raised executives' fixed pay after reforms in developed economies that allow for a claw-back of bonuses in some cases, the report noted.

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