On 26 November 2013, the Dutch government published a draft legislative proposal in which it introduced a 20% bonus cap for financial undertakings. The scope and characteristics of this bonus cap will be addressed here.
A bonus cap for bankers is introduced in CRDIV. However, the UK government fears that this rule, amongst others, will undermine responsibility in the banking sector rather than promote it. The government has therefore lodged a legal challenge with the ECJ.