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Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

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Share Price: 52.18
Bid: 52.26
Ask: 52.30
Change: 0.00 (0.00%)
Spread: 0.04 (0.077%)
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Prev. Close: 52.18
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Bank of England to impose tough new bonus clawback rules

Tue, 29th Jul 2014 15:31

The Bank of England (BoE) has decided to push ahead on its plans for super-tough bonus clawbacks on City bankers. The rules have been described as the toughest in the banking world but also "unreasonable" and even "unenforceable".A BoE consultation paper in March suggested bankers could be forced to give back cash up to six years after they had received and spent it.The Bank's Prudential Regulation Authority (PRA) has now decided to enforce these proposals, according to Sky News, with a policy statement to be published on Wednesday confirming that banks will have to amend the employment contracts of senior staff in order to implement the new rules, which will come into force on January 1st 2015.The clawback scheme will require banks to reclaim money already paid to employees even where the individuals have not been directly culpable of misconduct.The BoE would claw back bonuses where there had been "reasonable evidence of employee misbehaviour or material error", a "material downturn" in a bank's financial performance, or a "material failure of risk management" at a bank.Under current BoE powers firms can be prevented from paying unvested bonuses, called 'malus'; but the new proposals represent a further strengthening of the remuneration code. One positive for bankers is that the PRA has abandoned one part of its proposal for the new rules to be applied retrospectively, reported Sky.In its springtime submission to the consultation process, the British Bankers' Association said clawback rules would contravene employment law in some countries where UK banks operate, including Germany, France, Brazil and Mexico."Whilst clawback may be legally possible, the actual ability to enforce clawback will be dependent on the decision of a court to enforce clawback clauses in employment contracts," it added.Shares in Barclays, HSBC, Lloyds Banking, RBS and Standard Chartered all dipped slightly on the news, but all remained in positive territory on the day. OH
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5 Feb 2024 10:25

PRESS: Iran used Lloyds and Santander to evade sanctions, FT reports

(Alliance News) - Shares in Lloyds Banking Group PLC and Banco Santander SA fell on Monday, after a report that Iran used the two banks to covertly move money around the world as part of a sanctions-evasion scheme.

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30 Jan 2024 09:32

LONDON BROKER RATINGS: BoA cuts Barratt, Persimmon; ups Taylor Wimpey

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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29 Jan 2024 11:31

Lloyds to scrap mobile bank branches as moves towards online banking

(Alliance News) - Lloyds Banking Group PLC is shutting down its mobile banking service this year, after revealing plans to shed 1,600 jobs across its branch network as it moves ahead in the shift towards online banking.

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25 Jan 2024 14:41

Lloyds Banking Group to cut 1,600 jobs across branch network

(Sharecast News) - Lloyds Banking Group said on Thursday that it will cut around 1,600 jobs across branches as it continues to shift its focus to online banking.

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25 Jan 2024 10:36

BoE says 'ring fencing' capital rules for retail banks need no big overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked satisfactorily with no major overhaul needed.

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25 Jan 2024 10:05

Bank of England says 'ring fencing' capital rules for retail banks need no major overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked "satisfactorily" with no major overhaul needed.

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23 Jan 2024 12:37

UK Chancellor Hunt meets top UK bank heads over plans to boost City

(Alliance News) - Jeremy Hunt has met the UK's biggest banks as part of efforts among the government to boost interest in the City.

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23 Jan 2024 09:21

LONDON BROKER RATINGS: HSBC cuts Compass; Berenberg lowers Victrex

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

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22 Jan 2024 08:34

LONDON MARKET OPEN: FTSE 100 follows New York into the green

(Alliance News) - Stock prices in London opened higher on Monday, propelled by gains on Wall Street at the end of last week.

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18 Jan 2024 14:33

Britain's finance minister Hunt to quiz bank bosses on UK lending

LONDON, Jan 18 (Reuters) - Britain's finance minister Jeremy Hunt will meet the bosses of top British banks next Tuesday to seek reassurance they can keep lending to the economy, four sources familiar with the matter said on Thursday.

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17 Jan 2024 12:00

LONDON MARKET MIDDAY: UK inflation uptick, weak China data hits stocks

(Alliance News) - Stock prices in London were lower at midday Wednesday, as hotter-than-expected UK inflation data served as a setback to early rate cut expectations.

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15 Jan 2024 16:57

LONDON MARKET CLOSE: Sluggish stocks slip back in absence of US spur

(Alliance News) - Stocks in London were marked lower on Monday with the lack of direction from Wall Street, with US markets closed, adding to the subdued mood.

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11 Jan 2024 17:03

M&S shares, Wall Street sell-off drag FTSE lower

U.S. inflation data sparks selloff

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11 Jan 2024 11:36

UK finance watchdog probes possible motor finance misconduct

LONDON, Jan 11 (Reuters) - Britain's finance watchdog said on Thursday it would start looking into the motor finance industry, amid rising tensions between thousands of consumers and finance providers about commission arrangements.

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11 Jan 2024 09:26

TOP NEWS: Big Yellow rent hike saves revenue from decreased occupancy

(Alliance News) - Big Yellow Group PLC on Thursday said that revenue and lettable area had increased despite occupancy dropping during the "seasonally weaker third quarter".

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