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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/regulators-back-bonuses-crackdown.jpg"><img class="alignnone size-full" title="European regulators have backed a crackdown on bankers' bonuses" src="http://londonglossy.com/wp-content/uploads/2010/12/min-regulators-back-bonuses-crackdown.jpg" alt="European regulators have backed a crackdown on bankers' bonuses"/></a></p>
<p>A crackdown on bankers&#8217; bonuses has been approved by European regulators in a move to curb excessive risk-taking in the industry.</p>
<p>Bankers will be allowed to receive only 20% of their bonus up-front in cash and the rest either deferred or held in shares for a minimum of three years under tougher guidelines published by the Committee of European Banking Supervisors (CEBS).</p>
<p>CEBS &#8211; made up of representatives from banking supervisory authorities and central banks across the European Union &#8211; said the laws promoted &#8220;sound and effective risk management&#8221;.</p>
<p>The rules, which will come into force from January 1, are the latest in a line of measures designed to repair some of the damage caused by banks in the financial crisis.</p>
<p>On Thursday, the Treasury published final draft legislation for its new bank levy &#8211; which will raise £2.6 billion by 2012 through taxing the balance sheets of Britain&#8217;s largest banks.</p>
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