Member access

4-Traders Homepage  >  Shares  >  Swiss Exchange  >  UBS AG    UBSN   CH0024899483

UBS AG (UBSN)

107
Delayed Quote. Delayed BATS EUROPE - 12/19 05:20:00 pm
16.5750 CHF   -1.04%
6h ago China stock connect scheme scorecard throws up surprises
19h ago Capital hike, asset sales to fill gap at Monte Paschi - chairman
2d agoDJUK Public Finances Get Boost From Forex Fines--Update
SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Swiss Clear Path For Popular Vote On Curbing Executive Pay

05/31/2012 | 08:07am US/Eastern

Switzerland's parliament Thursday cleared the way for a national referendum on an initiative to give shareholders greater control over executive pay packages and a counterproposal for a payroll tax.

The Swiss government will decide on a date for the vote on whether shareholders should be allowed to impose yearly limits on salary and bonus payments on Swiss banks and other companies.

Public discontent over the levels of executive pay has become a sensitive political issue in many countries, including the U.K., as banks say high bonus levels, which critics regard as excessive, are necessary to attract top talent.

Under local referendum rules, Swiss voters will have the option to choose between the initiative, which was launched by Swiss entrepreneur Thomas Minder, and the counterproposal.

The popular vote is expected to be held by March 2013.

Switzerland's biggest bank, UBS AG (UBS), slashed its 2011 overall bonus pool by 40% to 2.6 billion francs ($2.69 million), while rival Credit Suisse Group AG's (CS) Brady Dougan had his compensation last year more than halved to CHF5.8 million.

-By Neil MacLucas, Dow Jones Newswires; +41 43 443 8046; neil.maclucas@dowjones.com

React to this article
Latest news on UBS AG
6h ago China stock connect scheme scorecard throws up surprises
19h ago Capital hike, asset sales to fill gap at Monte Paschi - chairman
2d agoDJUK Public Finances Get Boost From Forex Fines--Update
2d agoDJHong Kong Doesn't Find Evidence of Forex Rigging
2d agoDJHong Kong Doesn't Find Evidence of Forex Benchmark Rigging by Banks -- Update
3d ago Swiss savers shrug off negative interest, foreign banks the target
3d ago UBS says no plans to levy negative interest rates on retail clients
3d agoDJSwiss Central Bank Introduces Negative Interest Rates -- 2nd Update
4d agoDJAustralian State to Proceed with A$20 Billion Power-Network Sale
4d agoDJUBS Loses Appeal in French Tax Evasion Probe
Advertisement
Chart
Duration : Period :
UBS AG Technical Analysis Chart | UBSN | CH0024899483 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF