Banking and Financial Services Bill
Encyclopedia
The Financial Services Act 2010 (c. 28) is an Act
of the Parliament of the United Kingdom
which regulates bonuses paid to employees of banks. It was announced on 27 September 2009 by Prime Minister
Gordon Brown
on The Andrew Marr Show on BBC
One. Brown said that the new law would be included in the next Queen's speech and was the result of talks at the G20 summit in Pittsburgh where other countries were looking at similar action. He also said that the Act's purpose would be to ensure that bankers after the global economic crisis
do not go back to "business as usual".
Act of Parliament
An Act of Parliament is a statute enacted as primary legislation by a national or sub-national parliament. In the Republic of Ireland the term Act of the Oireachtas is used, and in the United States the term Act of Congress is used.In Commonwealth countries, the term is used both in a narrow...
of the Parliament of the United Kingdom
Parliament of the United Kingdom
The Parliament of the United Kingdom of Great Britain and Northern Ireland is the supreme legislative body in the United Kingdom, British Crown dependencies and British overseas territories, located in London...
which regulates bonuses paid to employees of banks. It was announced on 27 September 2009 by Prime Minister
Prime minister
A prime minister is the most senior minister of cabinet in the executive branch of government in a parliamentary system. In many systems, the prime minister selects and may dismiss other members of the cabinet, and allocates posts to members within the government. In most systems, the prime...
Gordon Brown
Gordon Brown
James Gordon Brown is a British Labour Party politician who was the Prime Minister of the United Kingdom and Leader of the Labour Party from 2007 until 2010. He previously served as Chancellor of the Exchequer in the Labour Government from 1997 to 2007...
on The Andrew Marr Show on BBC
BBC
The British Broadcasting Corporation is a British public service broadcaster. Its headquarters is at Broadcasting House in the City of Westminster, London. It is the largest broadcaster in the world, with about 23,000 staff...
One. Brown said that the new law would be included in the next Queen's speech and was the result of talks at the G20 summit in Pittsburgh where other countries were looking at similar action. He also said that the Act's purpose would be to ensure that bankers after the global economic crisis
Global economic crisis
Global economic crisis may refer to:*Economic events of the late 2000s:** Financial crisis ** Late-2000s recession*A global recession*Earlier global economic events, such as:...
do not go back to "business as usual".