China mulls regulation over brokerage executives’ salariesSeptember 1st, 2012 - 1:17 pm ICT by IANS
Beijing, Sep 1 (IANS) China’s top securities watchdog has said that it is considering a regulation on the salary of brokerage executives.
In a set of draft rules released to seek public opinion, the China Securities Regulatory Commission (CSRC) said payment on more than 40 percent of brokerage executives’ performance-related salary should be delayed for at least three years, reported Xinhua.
If executives fail to perform their duties and cause major irregularities or risks in the delay periods, the company should stop paying the remainder of the unpaid salary, according to the draft rules.
The CSRC said that the salaries of some Chinese brokerage executives are unreasonably structured and lack complete evaluation mechanisms. Therefore, the new rules require securities firms to establish more effective evaluation systems and set a link between wages and risks.
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Tags: beijing, brokerage, china securities regulatory commission, csrc, draft rules, irregularities, mechanisms, periods, public opinion, remainder, salaries, salary, securities regulatory commission, wages, watchdog, xinhua