The Financial Services Act 2010 (c. 28) is an Act of the

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which regulates bonuses paid to employees of banks. It was announced on 27 September 2009 by

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Gordon Brown James Gordon Brown (born 20 February 1951) is a British former politician who served as Prime Minister of the United Kingdom and Leader of the Labour Party (UK), Leader of the Labour Party from 2007 to 2010. He previously served as Chance ...

on ''

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One. Brown said that the new law would be included in the next

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and was the result of talks at the

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summit in

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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".

Provisions

The proposed Act is expected to include penalties for banks that do not follow a set of standards for methods of remuneration.

Provisions

See also