New rules on how financial institutions should determine pay and bonuses for staff have been set out by the Financial Services Authority (FSA).
It wants to see bankers' pay deals linked far more closely with the long-term profitability of the banks.
The FSA says that bonuses should not be guaranteed for more than a year, and that senior employees should have their bonuses spread over three years.
Many believe that big bonuses led to excessive risk-taking at banks.
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