The Globe and Mail reports in its Wednesday, June 1, edition that Canaccord Genuity Group has changed course on a controversial bonus payment plan that had irked some of its top bankers. The Globe's Niall McGee writes that last month Canaccord had informed some of its senior capital markets employees they would have to commit to staying for the next year as a requisite for receiving their fiscal year-end cash bonuses. Those who left within 12 months would be required to pay back the money. At boutiques, a bonus typically accounts for the bulk of compensation. Canaccord is now offering an alternative that would see senior capital markets employees paid a smaller cash bonus, with the balance paid in stock that will vest over a number of years. Crucially, the requirement to stay with the firm for a fixed period was dropped. Unnamed sources say there is relief among bankers that Canaccord has softened its approach, and a number have elected to take the alternative option. The reversal also means affected bankers are in a position to move to a competing firm after their bonuses are paid, and not risk a huge financial penalty. Bonuses for fiscal 2016 are due to be paid out in the next few days.