UK regulators have scrapped a long-standing cap on banker bonuses put in place after the 2008 financial crisis in a bid to curb excessive risk-taking.

Limiting bonuses to twice fixed pay has placed upward pressure on salaries and allowances, according to a statement from Prudential Regulation Authority, part of the Bank of England, on 24 October. This can't be clawed back if a banker is later found to have gone rogue.