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On September 30, the UK Treasury announced that the UK government intends to implement the remuneration reforms agreed upon at the Group of Twenty’s Pittsburgh summit held on September 24 and 25
The UK Financial Services Authority (FSA) has published a consultation paper (CP 0910 Reforming remuneration practices in financial services) which puts forward a Code of Practice (Code) on remuneration and formally consults on applying it to a group of 45 large banks and broker dealers and incorporating it into the FSA rules
