Remuneration in financial services - new rules on deferral and clawback

29 Jun 2015
employment

New rules on deferral and clawback of variable remuneration are set out in a joint policy statement issued by the Prudential Regulation Authority (“PRA”) and the Financial Conduct Authority (“FCA”). They will apply to variable remuneration awarded for performance periods beginning on or after 1 January 2016.

The rules are intended to discourage excessive risk-taking and short-termism and encourage more effective risk mana...

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