Central Bank cracks down on financial bonuses

The Central Bank has told the chairpersons of Ireland's financial firms to report back to it with their progress in reining in excessive bonuses at their firms.

Last month, the regulator announced the results of a lengthy review of bonus and remuneration practices at 15 Irish financial firms.

The Central Bank's investigation found that the firms reviewed used a ''high percentage of variable remuneration, that they focused on quantity rather than quality, and ...