Swiss curb on executive pay

Switzerland has voted to impose some of the world's toughest restrictions on executive pay, ignoring a warning from the business lobby that the curbs will undermine the country's investor-friendly image. The vote gives shareholders of companies listed in Switzerland a binding say on the pay packages for executives and directors. Violations could result in fines equal to six years of salary and a prison sentence of up to three years.

Switzerland has voted to impose some of the world's toughest restrictions on executive pay, ignoring a warning from the business lobby that the curbs will undermine the country's investor-friendly image. The vote gives shareholders of companies listed in Switzerland a binding say on the pay packages for executives and directors. Violations could result in fines equal to six years of salary and a prison sentence of up to three years.

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