financial sector

Many companies break bonus rules

Over half of the financial companies reviewed by the Swedish Financial Supervisory Authority (FI) do not live up to the rules regarding bonus systems. According to the authority, some of the 41 banks, credit institutes and investment fund companies reviewed have not understood the rules, others have deliberately decided to disregard them.

The flaws concern how the bonus systems are set up, how they are reported and how bonuses have been paid out. The Financial Supervisory Authority is calling for a change of attitude in the business. It will now make a more thorough review of the companies that have been found lacking in this respect and it warns that penalties may follow.

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