EU CAPS Bank Bonuses

EU lawmakers have voted to cap bankers' short-term cash bonuses from 2011.

Members of the European Parliament voted 625-28 in favor of the new rules which will become final when they are approved by EU finance ministers as expected next week.

From 2011, bankers will only be able to get part of their yearly bonuses in cash upfront. The other 70% will be held back and paid out if the company performs well.