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Sarkozy, banks set new limits on bonuses

French banks agreed to penalise traders who lose money for their firms after getting a bonus and to limit other payouts as part of a government effort to trigger a global clampdown on financial-sector salaries.

The remuneration rules were unveiled after a meeting between President Nicolas Sarkozy and France's top banks, including BNP Paribas and Société Générale.

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