NewsThe City watchdog is considering whether Britain can claim exemption from European laws that will introduce the toughest pay restrictions in the world

The City watchdog is considering whether Britain can claim exemption from European laws that will introduce the toughest pay restrictions in the world

Author: Louise Armitstead

Publication date: 8 July 2010

How best to reform the City of London remains unclear more than two years after the financial crisis began. Lawyers at the Financial Services Authority are exploring the possibility of claiming that the UK financial services sector is already adequately regulated by its own Code.

A sweeping majority of 625 to 28 Members of the European Parliament on Tuesday approved rules that will severely restrict bank pay (this issue has been discussed since the financial crisis) - lawyers at the Financial Services Authority are exploring the possibility of claiming that the UK financial services sector is already adequately regulated by its own Code.