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HM Treasury confirms it will drop its legal challenge against CRD IV bonus cap

Practical Law UK Legal Update 7-589-3666 (Approx. 3 pages)

HM Treasury confirms it will drop its legal challenge against CRD IV bonus cap

by Practical Law Financial Services
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HM Treasury has published a letter from George Osborne, Chancellor of the Exchequer, to Mark Carney, Financial Stability Board (FSB) Chair, relating to the government's legal challenge asking the Court of Justice of the EU (ECJ) to annul certain remuneration provisions in the CRD IV legislative package (that is, the Capital Requirements Directive (2013/36/EU) (CRD IV Directive) and the Capital Requirements Regulation (Regulation 575/2013) (CRR)).

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Published on 21-Nov-2014
Resource Type Legal update: archive
Jurisdiction
  • United Kingdom
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