Corporate Governance

UK Financial Services Authority Issues the Final-Form Remuneration Code

By Harvard Law School Program on Corporate Governance

On 17 December 2010, the UK?s Financial Services Authority (?FSA?) issued the final form of the revised Remuneration Code (the ?Code?). [1] The Code introduces significant restrictions on the way in which remuneration policies and structures are operated within financial institutions in the UK and beyond. The Code builds upon international standards set by the Financial Stability Board at a European level and goes beyond those standards in a number of key respects.

In this briefing, we have set out an overview of the background to the Code, a summary of the key provisions of the final form of the Code, as well as our commentary on some relevant provisions of the final-form guidance issued by the Committee of European Bank Supervisors (?CEBS?) on 10 December 2010. Finally, at the end of this briefing, we have focused in depth on some specific issues which may be of particular interest to our clients.

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Full post as published by The Harvard Law School Corporate Governance Blog on January 15, 2011 (boomark / email).