The UK is considering easing restrictions on banker bonuses in order to enhance its competitiveness in the global financial market.

This potential change reflects the UK's ongoing strategy to attract and retain talent in the banking sector amid increasing global competition.

The Prudential Regulation Authority and the Financial Conduct Authority have proposed a consultation that could reduce the waiting period for top managers to receive their bonuses from eight years to five years. Additionally, for other key risk-takers within financial institutions, the waiting period may be shortened to four years.