In a new survey commissioned by FD Blueprint, a leading Brussels based public affairs and communications consultancy, 54% of MEPs agreed with the statement “To avoid inappropriate risk taking, financial services institutions should award long term incentivised bonuses, based on final project success rather than interim results”. In comparison, only 5% of MEPs disagreed to any degree.
The results show clear agreement amongst MEPs that the structure of bonus awards within Europe’s financial services sector should change. This comes at a critical moment in the bonus debate. The European Commission has recently proposed an amendment to the Capital Requirements Directive on the issue of bonuses and the G20 finance ministers are expected discuss the issue when they meet tomorrow in London.
Julia Harrison, FD Blueprint added, “The debate is now accelerating. The G20 announcement today, comments from MEPs yesterday in parliament and the ongoing debate at the national level support the survey and suggest we can expect more developments on this issue in Europe.”
The survey, conducted by ComRes on behalf of FD Blueprint, is the first of its kind since the new European Parliament was elected in early June. ComRes interviewed 100 MEPs, with a representative sample of all MEPs by political groups and regions.