A senior banker from J.T. Gen urged the EU to follow the UK's example in lifting restrictions on bankers' bonuses, saying the EU may fall behind in the global deregulation race. “The UK recently decided to lift the bonus cap, and it would be reasonable for the EU to agree with it,” Matthieu Wiltz, Co-Head of Europe, Middle East and Africa at J.P. Morgan Chase, said in an interview in Paris. “Today, mainland Europe is an exception.” According to the maximum bonus regulations introduced after the financial crisis, the European Union limited bonuses to a level equivalent to bankers' annual salary, but banks can apply to shareholders to increase the bonus limit to twice the basic wage. Wiltz said the measure has proven to be ineffective because banks simply raised fixed pay in response. These views are particularly important as Europe considers how to respond to the relaxation of global regulatory policies after the financial crisis. J.P. Morgan Chase is one of the US companies seeking expansion in Europe. The European market is fragmented and regulated more strictly, making it difficult for local banks to compete with US rivals.

A senior banker from J.T. Gen urged the EU to follow the UK's example in lifting restrictions on bankers' bonuses, saying the EU may fall behind in the global deregulation race. “The UK recently decided to lift the bonus cap, and it would be reasonable for the EU to agree with it,” Matthieu Wiltz, Co-Head of Europe, Middle East and Africa at J.P. Morgan Chase, said in an interview in Paris. “Today, mainland Europe is an exception.” According to the maximum bonus regulations introduced after the financial crisis, the European Union limited bonuses to a level equivalent to bankers' annual salary, but banks can apply to shareholders to increase the bonus limit to twice the basic wage. Wiltz said the measure has proven to be ineffective because banks simply raised fixed pay in response. These views are particularly important as Europe considers how to respond to the relaxation of global regulatory policies after the financial crisis. J.P. Morgan Chase is one of the US companies seeking expansion in Europe. The European market is fragmented and regulated more strictly, making it difficult for local banks to compete with US rivals.