News & Analysis as of

Banking Sector Remuneration

A&O Shearman

EBA publishes report on remuneration and gender pay gap for financial institutions

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The European Banking Authority (EBA) has issued its latest report on remuneration and gender pay gap benchmarking for institutions and investment firms, together with a press release. The report covers information on...more

A&O Shearman

UK bankers' remuneration reform: individual accountability

A&O Shearman on

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

A&O Shearman

UK bankers’ remuneration reform: MRT proposals in focus

A&O Shearman on

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

Skadden, Arps, Slate, Meagher & Flom LLP

The UK and EU Bank Remuneration Regimes Begin To Diverge

In the aftermath of the 2007-09 global financial crisis, the G20 nations committed to reforming bank remuneration frameworks in response to criticism that excessive risk-taking at banks incentivised by poorly structured pay...more

Cadwalader, Wickersham & Taft LLP

The UK Consults on Changes to Its Remuneration Rules

The UK’s Financial Conduct Authority ("FCA") and Prudential Regulation Authority ("PRA") have issued a joint consultation aimed at making dual-regulated firms’ remuneration regimes more effective, simple and proportionate...more

A&O Shearman

UK bankers' remuneration: significant reform proposals

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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

A&O Shearman

UK Bankers remuneration rules transitioning into 2024 and beyond

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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

Skadden, Arps, Slate, Meagher & Flom LLP

The Capital Ratio: Roundup of Upcoming UK Regulatory Reforms for Financial Institutions

UK regulators have recently announced a number of reforms for banks and other financial institutions. - On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more

A&O Shearman

Bankers bonus cap lifted - what does it mean for the banks

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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

Paul Hastings LLP

The U.K. Abolishes the Bonus Cap for Banks

Paul Hastings LLP on

The PRA and FCA have announced that the U.K. will be removing the bonus cap for individuals working in U.K. banks. The U.K.’s remuneration rules for the banking and financial services sector were introduced in the wake of...more

Morgan Lewis

UK Financial Regulators Consult on Removal of Bonus Cap

Morgan Lewis on

The UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) (jointly, the Regulators) are proposing to remove the bonus cap for banks, building societies, and PRA-designated investment firms. The...more

A&O Shearman

Regulatory monitoring: EU Version (UPDATED)

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Our monthly regulatory newsletter monitors all relevant developments regarding European regulatory law in English language. ...more

Latham & Watkins LLP

Conduct and Culture Update from the FCA

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The FCA published its annual Industry Feedback for 2019/20 in relation to its 5 Conduct Questions Programme. Messages from the Engine Room - “Conduct and culture will remain a key focus of our engagement activity”....more

A&O Shearman

UK Conduct Regulator Sets Out Approach for Annual Remuneration Round

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The U.K. Financial Conduct Authority has published a letter (dated August 19, 2019) addressed to the chairpersons of the remuneration committees of the boards of banks and large investment firms (investment firms with total...more

Latham & Watkins LLP

Principios de Remuneración en Nueva Directiva de Requerimientos del Capital

Latham & Watkins LLP on

Los Estados Miembros deben trasponer la Directiva sobre Requisitos de Capital V antes del 28 de diciembre de 2020. El 7 de junio de 2019, el Diario Oficial de la UE publicó el texto de la Directiva sobre requisitos de...more

Orrick - Finance 20/20

ECB Publishes Letter on Variable Remuneration Policies of Credit Institutions

Orrick - Finance 20/20 on

On January 10, the European Central Bank (“ECB“) published a letter (SSM/2019/010) (dated January 9, 2019) from Andrea Enria, ECB Supervisory Board Chair, on the variable remuneration policies of credit institutions in the...more

A&O Shearman

UK Regulator Highlights Role of Remuneration Committee Chair As a Senior Manager

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The U.K. Financial Conduct Authority has published a letter (dated August 20, 2018) addressed to the Chair of the Remuneration Committee of banks and large investment firms (investment firms with total assets over £50...more

A&O Shearman

UK Prudential Regulator Issues Update to Level One Firms on Supervising Remuneration Compliance

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The U.K. Prudential Regulation Authority has published a "Dear Remuneration Committee Chair" letter that it has sent to Remuneration Committee Chairs of proportionality Level One firms (that is, banks, building societies and...more

K&L Gates LLP

Mortgage Broker Remuneration Reforms – What You Need to Know

K&L Gates LLP on

Concerns have been raised by the Australian Government in recent times in relation to the effect of current remuneration structures in the mortgage broking market on the quality of consumer outcomes. During 2016, the...more

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