Speaking to the Financial Times, German MEP Sven Giegold, a leading figure in the negotiations, said he was prepared to raise the bonus-salary ratio from 1:1 to 1:2 in order to reunite the parliament so long as shareholders or investors can approve the increase.
This would be in line with the rules that apply to bankers, a 1:1 ratio which can be doubled with the approval of a majority of shareholders.
The economic and monetary affairs committee voted last week to impose a cap on bonuses equivalent to 100% of fund manager salaries. The asset management sector has since been lobbying against the move, while liberal and conservative MEPs have supported calls for the rule to be relaxed.
Commentators have also criticised the plan, pointing out that asset managers and bankers are very different given that, unlike asset managers, failures by bankers can have implications for the whole economy.
The committee’s plan will be put to a vote for the entire European Parliament in April.
