Proceeding contribution from Ian Pearson (Labour) in the House of Commons on Wednesday, 26 November 2008. It occurred during Debate on bill on Banking Bill.
Banking Bill
Directors of the recapitalised banks are very much in the public eye and will continue to be so for the foreseeable future. We have been very clear about the conditionality that we want on executive remuneration, and we will continue in that manner. We have powers to the banks, and we have absolutely no reason to believe that they will not continue to take a fair and appropriate line on directors' pay and executive bonuses. We certainly do not condone any reward for failure, and we expect the relevant bank's board to support the removal of any directors for a failure to deliver against their agreed strategic objectives.
Secondary information
- Type
- Proceeding contribution
- Reference
- 483 c833
- Session
- 2007-08
- Chamber / Committee
- House of Commons chamber
- Subjects
- Disclosure of information Compensation Codes of practice Consumers Directors Assets Debts Bank services Banks Credit unions Building societies Capital Deposits Finance Liability Financial services Financial institutions Exemptions Insolvency Government assistance Financial Services Authority Private sector Protection Pay Property transfer Public sector Publicity Mutual societies Nationalisation Shares Treasury Henry VIII clauses Financial Services Compensation Scheme
- Legislation
- Banking Bill 2007-08 to 2008-09
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-15 23:18:33 +0000
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