Compensation
FSA consults on remuneration disclosure requirements
New consultancy paper from the UK FSA requires all firms to disclose their remuneration methodology under CRDIII.
Risk USA: Pay bigger than politics, says former Treasury adviser
Risk managers need to look closely at compensation, declares former US Treasury adviser
Financial industry raises problems around remuneration framework at Cebs hearing
The remuneration proposals for EU banks would make it difficult for banks to recruit and retain people in Asia, and create large personal tax liabilities
PwC partner: Basel's remuneration paper gives banks cause for concern
Firms worried by Basel Committee’s remuneration proposal
FSCS denies compensation on capital-at-risk Lehman products
The UK Financial Services Compensation Scheme has concluded that the marketing material for Lehman Brothers's capital-at-risk products was adequate and appropriate
UK FSA expresses concern about excessive EU rules
Financial Services Authority's Dan Waters says regulators should gather more information about the systemic risks hedge funds pose
FSA worried over excessive EU rules while firm on proportionate solution for hedge fund pay
UK regulator worried heavy handed rules will drive hedge funds out of Europe, depriving supervisors of information on their European activities
IIF: Pay rates too biased towards front office
IIF: Pay rates too biased towards front office
IIF: banks must do better on disclosing pay practices
Regulatory requirements in the US and Europe mean banks now have tougher pay standards to comply with
Dodd-Frank: devil is in the detail on bonus transparency requirements
US banks must consider disclosure rules for CEO and median pay packages
Focus on banks’ incentives must continue post-crisis: Bank’s Bean
Bank of England deputy governor Charles Bean says crisis focus on bank incentives must remain; financial market problems require macroprudential instruments
UK FSA exodus stokes fears of anaemic operations
Regulator revealed to have shed 121 personnel in second quarter of the year, 128% up on a year previous; insists it still draws top talent, but commentators worry resignations will weaken it
FSA revised pay code ‘tightens the screws’ on remuneration
New UK bonus rules are widened to cover thousands more investment firms
Banker bonuses cut by EU amendments to CRD...
...and US issues supervisory guidance
DBS Bank agrees compensation for Hong Kong Lehman notes
Securities and Futures Commission accuses DBS of inappropriately selling high-risk products to low-risk profile investors
UAE firm sues MD over bonuses
Claims director mis-stated profits in order to collect bonus
Europe hikes capital rules, slashes banker bonuses
Legislation adopted by European Parliament requires banks hold up to four times more capital to protect against trading risk; half of bankers’ bonuses to be paid in contingent capital
Hedge funds caught in EU Capital Requirements Directive
New European Union compensation rules affect hedge funds before AIFM comes in force
FDIC plans to continue proposals linking pay structures to banks’ deposit insurance
The Federal Deposit Insurance Corp says its plan to link banks’ compensation arrangements with premiums is “complementary” to supervisory guidance issued jointly by regulators
US regulatory guidance for compensation structures snubs FDIC proposal
Final pay guidance from US regulators shows no trace of Federal Deposit Insurance Corporation’s (FDIC) proposal for higher premiums for banks with risky compensation structures
Governance returns
Excessive risk-taking was a major cause of the recent meltdown in the financial markets. Time, then, for corporate governance to return in force
EBF urges restraint on remuneration regulation to protect EU competition
An EBF report calls on EU governments to hold back on punitive reforms to banking bonuses because they may threaten the competitiveness of EU financial centres
Liberal Democrats plan unilateral approach to bank pay reform
Lib Dem leader Nick Clegg has committed his party to punitive unilateral bank bonus regulations in the UK election race.