The Investment Association has published a revision to its principles of remuneration (formerly known as the ABI remuneration guidelines) to take account of MAR coming into force on 3 July 2016. The previous version of the principles provided that options or LTIP awards should be granted only during a period of 42 days following an announcement of results. That period has been changed to the period of 42 days immediately following the end of a closed period under MAR. In practice it is likely that these periods will be the same anyway, but this depends on the correct interpretation of the term "closed period" in the UK. The FCA has issued guidance on this but clarification from ESMA and the European Commission is awaited.
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