FSA issues new 'Dear CEO' remuneration letter

Daily news headlines


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.

  • LinkedIn  
  • Save this article
  • 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 info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: