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Financial Services Latest News: EU Lawmakers Soften Demands to Control Fund Manager Pay

Wochit 0:47 mins

European lawmakers called for rules to limit the cash bonus paid to fund managers, but shied away from demanding the strict bonus caps that they pushed through for bankers earlier this year. Steven A. Cohen's $15 billion hedge fund SAC Capital Advisors posted a 1.5 pct gain in June, according to an investor familiar with the numbers. Britain's financial regulator warned the Co-operative Bank two years ago that it needed to raise capital, and was not in a position to buy hundreds of branches from Lloyds Banking Group.

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