FSA publishes code of practice on remuneration policies
UK regulator sets out best practices for firms on compensation packages
The aim of the code is to ensure firms have remuneration policies in place that are consistent with sound risk management, and do not expose them to excessive risk. It is not concerned with setting levels of remuneration, which the FSA maintains is a matter for boards of companies and their shareholders.
FSA chief executive Hector Sants says: "We have already outlined the work we have been doing on remuneration during the past 12 months. The code of practice we have published today is the next stage in that work and clearly lays out the framework we expect firms to adopt."
The FSA will consult on the code and further proposals for remuneration policy in March.
Click here for a copy of the code of practice.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Risk management
BIS’s Hernández de Cos on AI, non-bank risk and tokenisation
General manager talks about how the BIS is navigating a complex global environment
For enterprise risk, influence runs deeper than any veto
Risk Benchmarking study finds formal veto rights concentrated among the largest lenders, but used only as a last resort
Intraday pricing: fixed income’s next frontier
With firms looking to price fixed income securities on an intraday basis, specialist pricing providers such as LSEG help address cost, complexity and time-to-market challenges
Tech and data fragmentation irks enterprise risk managers
Risk Benchmarking: Often at the mercy of decisions made by other parts of the bank, ERM heads gripe at disparate systems, poor UX and reporting gaps
At bigger banks, enterprise risk owns scenario frameworks
Risk Benchmarking research finds ERM teams tasked with providing effective challenge on scenario construction across risk silos
Asian firms waiting on exemptions from UST clearing mandate
Hoping for relief on extraterritoriality, 51% of Apac firms have yet to start compliance programmes
HSBC’s Orion sees cash leg challenge to tokenised bonds
Tradeweb and others agree more work needed before atomic settlement is achieved
Month-long power glitch hits key Apac trade surveillance tool
Nasdaq’s alert functions were restored, but users say testing and calibration tools still disrupted
