HM Treasury has now published the Financial Services Bill which, if enacted, will give the Treasury power to make regulations concerning the disclosure of remuneration and will require the FSA to require regulated companies to have remuneration policies that are consistent with effective risk management and international standards, including those adopted by the G20. The Bill will also give the FSA the power to prohibit terms in employment contracts that encourage excessive risk-taking or include multi-year remuneration guarantees and to require any payments made under such void arrangements to be clawed back.