Stock-Hedging Lets Bankers Skirt Efforts to Overhaul Pay
For more: http://nyti.ms/fYmuvs
Intent on fixing a banking system that contributed heavily to the recent financial crisis, lawmakers and regulators pushed Wall Street to overhaul its pay practices. Big banks responded by shifting more compensation into stock, a move intended to align employees’ interests more closely with those of investors and discourage excessive risk-taking.