Over the last month, both the PRA and FCA have produced final versions of updated guidance on remuneration.
This follows the form of the FCA’s draft guidance published for consultation last year and the PRA’s consultation. In both cases, the updated guidance consolidates guidance that was previously located in several places and the opportunity has also been taken to update the guidance to reflect the European Banking Authority’s 2015 remuneration guidelines. The FCA’s guidance deals with proportionality and is in the form of FAQs, with separate guidance for each of the particular Remuneration Codes. Only very minor changes were made following consultation.
Click here to access the PRA’s revised guidance.
Click here to access the FCA’s revised guidance.
Click here to read our earlier RegZone alert.