Swiss authorities to restrict big bank bonuses?

Acting Finance Minister Eveline Widmer-Schlumpf said the Swiss authorities are considering measures to restrict pay and bonuses at big banks.

Acting Finance Minister Eveline Widmer-Schlumpf said the Swiss authorities are considering measures to restrict pay and bonuses at big banks, following the huge lifeline the government has extended to largest bank UBS.

Widmer-Schlumpf told weekend paper SonntagsZeitung one option would be to ask assemblies of shareholders to help set pay levels for top executives. She said she was also considering a fixed bandwidth for banks’ biggest earners. Also up for discussion are measures to make additional packages on top of base salaries, such as stock options, illegal.