A peer review of the the G20 companies’ implementation of sound compensation practices has been issued by the Financial Stability Board (FSB).
The scores so far are:
Australia, France, Germany, Italy, The Netherlands, Saudi Arabia, Switzerland, and the U.K. – A, well done boys and girls.
Canada and Spain – B+, again, well done, excellent choices made.
China, Hong Kong, Korea, Japan, and the U.S. – B, it’s a start, but could work harder next semester.
Brazil, Mexico, Singapore, Argentina, South Africa, and Turkey – C, could do better. More attention to detail needed.
India, Indonesia, and Russia – D, insufficient effort is leading to work being handed in late on a consistent basis.
It runs the gamut from enforceable regulations – the A graders – to “still thinking about it” – the D graders. And the U.S. is judged to be “following a primarily supervisory approach to implementation”.
Pretty soon, someone somewhere is going to claim that there is going to be a banker brain drain to India, Indonesia, and Russia unless we repeal all this supervision….
Paul Hodgson - Senior Research Associate
