The UK Financial Conduct Authority (FCA) has published its next steps to address non-financial misconduct within the financial services sector. With the publication of Consultation Paper CP25/18, the FCA signals its ongoing...more
PRA and FCA proposals to simplify bankers’ remuneration rules would relax certain key restrictions on bankers’ variable pay, giving banks more flexibility in remuneration design and improving their recruitment potential....more
The PRA and FCA have proposed new rules to integrate the UK’s remuneration regime and accountability regime under the SMCR more closely, including a requirement for firms to consider adjusting MRTs’ variable pay (using malus...more
PRA and FCA proposals to revamp bankers’ remuneration rules would reduce the number of in-scope material risk takers (MRTs), while enabling more MRTs to benefit from proportionality exclusions. Banks would have greater...more
In the dynamic landscape of global private equity, MIPs are a crucial tool for attracting, retaining, and motivating executive talent. In this article, we highlight key issues and practical tips for companies planning to...more
12/11/2024
/ Compliance ,
Corporate Governance ,
Employer Liability Issues ,
Investment ,
Investors ,
Jurisdiction ,
Private Equity ,
Private Equity Firms ,
Private Equity Funds ,
Regulatory Agenda ,
Regulatory Requirements ,
Remuneration ,
Securities Regulation
The PRA and FCA are consulting on new proposals to simplify the UK remuneration regime and make it more proportionate for banks. Changes would reduce the number of material risk takers (MRTs) subject to the rules, simplify...more
12/5/2024
/ Bankers ,
Banking Sector ,
Compensation & Benefits ,
Consultation Papers ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Prudential Regulation Authority (PRA) ,
Remuneration ,
Senior Managers ,
UK ,
UK Regulatory Reforms
The Government-backed FTSE Women Leaders Review has been released for the third year, with the results showing promising progression in the appointment of women to boards (with the 40% target for women on boards achieved in...more
2024 promises to be another busy year in the regulatory remuneration space. Banks will already be thinking about changes to their arrangements now the bonus cap has been lifted. Here’s a round-up of what else is new – some of...more
Fundraising challenges, higher financing costs, market volatility and an ever-tighter regulatory environment are upping the pressure for M&A among asset managers. Those drivers, however, apply differently depending on which...more
12/15/2023
/ Acquisitions ,
Asset Management ,
Banking Sector ,
Buyers ,
Capital Markets ,
Global Dealmaking ,
Investment Funds ,
Mergers ,
Private Equity ,
Publicly-Traded Companies ,
Sellers
Welcome to our year-end edition of M&A Insights, where we preview some of the themes we expect to shape deal-making over the next 12 months.
Continued volatility in the debt markets has resulted in another subdued year for...more
12/13/2023
/ Acquisitions ,
Artificial Intelligence ,
Asset Management ,
Capital Markets ,
EU ,
Financial Sponsors ,
Global Dealmaking ,
Global Market ,
Investment ,
Investors ,
Life Sciences ,
Mergers ,
Pharmaceutical Industry ,
Private Equity ,
Publicly-Traded Companies ,
Software Developers ,
Technology
UK holiday and holiday pay rules are changing from 1 January 2024 in a well-intentioned move to simplify and clarify the expectations of employers. For those who already comply with pre-Brexit ECJ case rulings on holiday pay...more
PRA and FCA plans to remove the bankers’ bonus cap requirements have been accelerated, giving banks flexibility to depart from a strict regulatory cap with immediate effect....more
The PRA and the FCA have published a joint policy statement in response to their consultation proposals on removing the bonus cap requirements to strengthen the effectiveness of the banking remuneration regime. In this...more
Hotfooting off its policy paper published last week, the UK Government has started consulting on how to reform rules on working time record-keeping, paid holiday entitlement, and limited aspects of TUPE consultation. It has...more
A range of new employee rights have been promised by the Government for some years. These include extended redundancy protection for pregnant workers, the right to request flexible working from day one and the right to...more
The Financial Conduct Authority (FCA) has published a Discussion Paper (DP) (DP23/1) titled “Finance for positive sustainable change: governance, incentives and competence in regulated firms”, which explores a number of key...more
Following the success of our Employment Law Horizon Scanning webinar that took place earlier this year we have released our predictions for 2023....more
The Government’s plans to scrap the bankers’ bonus cap moved a step closer to reality this week, as the PRA and FCA published a consultation paper fleshing out how they propose implementing this change....more
As I have been predicting, there are rumblings of a loosening of EU-derived banking sector pay rules in the UK, and of an about-turn on bankers’ bonuses. According to numerous press reports, the Chancellor, Kwasi Kwarteng, is...more
For material risk takers (MRTs) and firms who may have grappled with remuneration restrictions when seeking public appointments, there is relief in sight. In a pragmatic move, the PRA is consulting on proposals to relax the...more
Yesterday, the FCA published its latest “Dear Remuneration Committee Chair” letter addressed to remuneration committee (Remco) chairs of proportionality level one banks, building societies and PRA designated investment firms....more
At the start of the Queen’s reign in 1953, workplace discrimination was commonplace and lawful. Today, the personal characteristics of workers such as sexual orientation, religion, gender and pregnancy have statutory...more
Overview -
As part of its broader focus on diversity and inclusion, the FCA has published its final rules on diversity and inclusion on listed company boards and executive committees....more
As we celebrate International Women’s Day, which this year has taken the theme #breakthebias, it is reassuring to see from the Government-backed FTSE Women Leaders Review (the Review) published at the end of February that the...more
In the latest holiday pay ruling to throw a spanner in the works for employers, the Court of Appeal has ruled that a misclassified worker who took unpaid annual holiday could carry over his paid holiday rights from one year...more