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UK's FCA says banks fined for forex failings must review bonuses

Wed, 12th Nov 2014 09:28

LONDON, Nov 12 (Reuters) - Banks that have been fined forattempting to manipulate currency markets should "think hard"about the bonuses they will be handing out to staff, Britain'sFinancial Conduct Authority said on Wednesday.

Clive Adamson, director of supervision at the FCA, told anews conference the watchdog will look at whether clawbacks tobonuses accurately reflect the failings uncovered by regulators.

"We would expect firms to think hard about this in thecurrent bonus round," Adamson said.

(Reporting by Huw Jones, editing by Clare Hutchison)

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