BoE's Carney criticizes EU insurance and bonus rules

December 7, 2015 2:24 PM

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BoE's Carney criticizes EU insurance and bonus rules

LONDON Bank of England Governor Mark Carney renewed his criticism of European Union caps on bankers' bonuses and insurance regulation on Monday when he addressed a European Parliament committee.

Carney, who was appearing in his role as vice-chair of the European Systemic Risk Board, a financial watchdog, said rules limiting bankers' bonuses to a proportion of basic pay and so-called Solvency II rules for insurers needed reform.

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