Aegon, ING ignore code of conduct on executive bonuses
Christian Democrat MPs have asked finance minister Jan Kees de Jager to explain why senior managers at ING and Aegon’s insurance arms are to be exempt from the financial services sector code of conduct on bonuses.
The Financieele Dagblad reported on Monday that the two companies do not want to adopt the 100% of salary ceiling on bonuses for top staff who work abroad because this will make them uncompetitive.
CDA MP told the Telegraaf this development is ‘extremely undesirable’ and wants De Jager to say what he plans to do about it.
The banking code of conduct is voluntary.
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