A sensible thing to do when in error is to say “Oh yes, so I am!”
Not the Murphmeister though, oh no, not the Murphmeister.
The Swiss package is very different from the EU bonus bonus cap regulation. The Swiss rule does not set a statutory limit to the amount of compensation, or it’s structure, but only makes them subject to mandatory a shareholders’ vote. It only affects the compensation of directors and executive officers, but not rank and file employees including officers.
Interestingly, the law is really only relevant for public companies listed in Switzerland. It will have little bearing on private companies or partnerships (like many of the private banks). Also, it will make little difference to the subsidiaries of foreign companies in Switzerland: the Swiss subsidiaries of JP Morgan or Glencore will continue to be able to pay their people just as they wish.Richard Murphy says:
You are clearly a true far right libertarian (which is why I find you so tedious)
You have not a clue that once there is a law the public will not tolerate its abuse
And they won’t in Switzerland now that 68% of people have voted to stop it
You really do need to get your head round democracy
There is, of course, more.