Finance Min: Bonus limit in finance sector effective

The strict bonus policy in the Netherlands' financial sector, which includes a limit on bonuses, seems to be effective, according to the first assessment of the policy. So far there is no negative impact on the Dutch economy, business climate and competitiveness, Minister Jeroen Dijsselbloem of Finance wrote to parliament on Tuesday, ANP reports. The bonus law was implemented at the start of last year. It limits bonuses in the financial sector to 20 percent of the fixed annual salary, giving the Netherlands the strictest bonus rules in Europe. The aim of the law is to prevent compensation incentives making bankers and insurers taking unwanted risks. According to Dijsselbloem, the implementation of the law also did not lead to banks and insurance companies struggling to attract suitable staff. Dijsselbloem stressed that the report only contains the preliminary assessment on the policy. But he finds the first assessment to be "positive".