Financial experts believed that the bonus cap law, which limits the awarding of bonuses to bankers and traders, has created an unfair playing field for the European Union because of banks' decision to circumvent the law by reclassifying or restructuring bonuses.
Financial Stability Board, a group formed by global financial bloc Group of 20 and led by Bank of England governor Mark Carney, will ensure that the reliability and integrity of foreign exchange rate benchmarks be restored after allegations of manipulation within bank trader circles surfaced, DealBook said in its report.
The three-member UN Commission of Inquiry led by retired Australian judge Michael Kirby concluded as per evidence that North Korea conducted an array of crimes against humanity, and will formally turn its findings over to the International Criminal Court, said an anonymous source who had been briefed of the conclusions of the commission report.
The European Court of Justice said in a ruling that it is legal for a website to publish links to works of authors as long as the works had been published. The regulator said that the fact that the works are already published online did not violate the "act of communication to the public" provision of the region's copyright law.
