Rules allowing regulators to claw back bonuses will only come into effect in 2015, an industry regulator has announced.
The Bank of England's Prudential Regulation Authority said trying to apply the new rules retrospectively would mean many firms would be "open to challenge" from employees.
"In order to ensure a consistent and even application of the clawback requirement across industry, the final rule requires the application of clawback only to awards made on or after 1 January 2015," the PRA said.
More top news
Apple has released a new security update after an activist's iPhone's was targeted by spyware in the United Arab Emirates.
The disgraced former boss of BHS has told ITV News he has no plans to give back the £1 million he took out of the collapsed firm.
Tomorrow will start off dry with bright spells