The UK's New Remuneration Code

Law360, New York (January 10, 2011, 3:53 PM EST) -- On Dec. 17, 2010, the U.K.’s Financial Services Authority (FSA), published the final version of its revised "Remuneration Code" (the code) governing pay in the U.K. financial services industry. The code represents a radical reform of remuneration structures for banks and other financial institutions. While the code took effect Jan. 1, 2011, some of the more restrictive provisions did not immediately bite, giving firms six months, until July 1, 2011, to comply.

The initial proposals had provoked major concern within the investment management industry, with investment...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.