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Da Mo to lift the upper limit on bonuses for bankers in the City of London

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According to reports, Morgan Stanley (MS. N) will lift the upper limit on bonuses for bankers in the City of London, highlighting that American and British banks operating locally are aligning with New York to include a large amount of bonuses in banker salaries. This Wall Street bank stated in its regulatory filing that it will replace the current rule that specific employee bonuses cannot exceed twice their fixed salary with an "appropriate internal bonus cap.".
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