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Aug 20, 2012

FSA Proposes to Amend Proportionality Provisions of the Remuneration Code

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On 26 July 2012 the UK’s Financial Services Authority (“FSA”) published a consultation paper on proposals to amend the proportionality tier provisions of the Remuneration Code. The proposed new approach, which will replace the current four-tier structure based on either assets or regulatory capital and its activities with a new three-level system based on a firm’s total assets, is intended to simplify compliance with the Remuneration Code. All FSA-regulated firms should reappraise which of the three new levels they would fall into and the potential consequences.

View full memo, "FSA Proposes to Amend Proportionality Provisions of the Remuneration Code"

Authors and Contributors

Sam Whitaker

Counsel

Compensation, Governance & ERISA

+44 20 7655 5954

+44 20 7655 5954

London

Barnabas Reynolds

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5528

+44 20 7655 5528

London

Thomas Donegan

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5566

+44 20 7655 5566

London

John Adams

Partner

Investment Funds

+44 20 7655 5740

+44 20 7655 5740

London

Ellerina Teo

Associate

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5070

+44 20 7655 5070

London