FSA issues new 'Dear CEO' remuneration letter

David Benyon
21 Jul 2009

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

LONDON - The Financial Services Authority (FSA) has issued another 'Dear CEO' letter to warn firms of their obligations under the new remuneration code of practice due to be incorporated into the regulator's handbook.

The new regulations will be implemented on January 1, 2010 "along the lines originally proposed, together with updated supporting principles", which the regulator says take account of comments received from the now closed industry consultation period.

The UK City watchdog says its measures are consistent with regulatory measures suggested by the G-20 Financial Stability Board and in alignment with regulatory developments in the US, Switzerland and the European Union.

The regulator also says it is not proposing to extend grandfathering arrangements for the new regulation to pay obligations entered into after the publication of its remuneration consultation paper on March 18, 2009.

Click here to read the paper.

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

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 [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact [email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]