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How will UK regulatory bodies respond to Goldman Sachs' bonus cap removal by end of 2024?
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Resolution / Starting Odds
No action • 33%
Investigation launched • 33%
New regulations proposed • 33%
Official statements from financial regulatory authorities
Story
Goldman Sachs Removes Bonus Cap for Top UK Staff, Allowing Multimillion-Pound Payouts
May 2, 2024, 03:28 PM
Goldman Sachs has decided to remove the cap on bonuses for its top UK-based staff, a policy initially implemented in response to the 2014 public outcry over the financial crisis. This move by Goldman Sachs will allow the firm to offer multimillion-pound payouts to its best-performing traders and dealmakers in London. The bonus cap was originally introduced by the European Union and has been in place since 2014.
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Similar markets
Implement similar controls • 33%
No change in controls • 33%
Revise existing controls without major overhaul • 34%
Launch alternative products • 25%
Increase focus on other financial services • 25%
Lobby against the regulations • 25%
No significant change • 25%
HSBC • 25%
Barclays • 25%
Lloyds • 25%
NatWest • 25%
Penalties Imposed • 33%
Warnings Issued • 33%
No Major Actions • 34%
No significant issues found • 33%
Minor compliance issues found • 34%
Major compliance issues found • 33%
Retail Banking • 33%
Investment Banking • 33%
Asset Management • 34%
Fine • 33%
Suspension • 33%
No Action • 34%
No significant change • 33%
Positive impact • 33%
Negative impact • 33%