The Federal Reserve has called on 25 banks to take extra measures to control employee-pay practices that can put an entire company at risk, Bloomberg reports. Goldman Sachs Group, Deutsche Bank and Citigroup are among the banks that have been urged to take the step.
Firms are required to do more in reforming compensation practices that were a contributing factor to the financial crisis. Most of the banks should do more to account for the complete range of risks in staff pay, according to the Fed.
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