By Jonathan Davies

The Advocate General of the EU Court of Justice has rejected the UK's challenge to a ruling on bonus caps.

The cap restricts bonuses to 100% of pay, or 200% with shareholder approval.

It is designed to limit the amount of risks taken by bankers. But the UK argued that a limit

Advocate General Niilo Jääskinen said "fixing the ratio of variable remuneration to basic salaries does not equate to a 'cap on bankers bonuses', or fixing the level of pay, because there is no limit imposed on the basic salaries that the bonuses are pegged against."

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