Swiss Banker Bonus Cap Proposal Watered Down in Parliament (1)

Swiss lawmakers have watered down a proposal that would have installed a fixed upper limit on compensation at the country’s biggest banks including UBS Group AG.

In March, the upper house of parliament voted in favor of the bill to cap salaries of top executives at Swiss banks at between 3 million and 5 million francs per year. That bill has now been changed in the lower house, according to a statement from the parliament. That means the cap is unlikely to become law.

Executive compensation has become a hot button issue for Swiss politicians in recent years, especially after ...