FSB updates on compensation standards implementation

FSB has published a progress report on implementation of its compensation standards. The standards were published in 2009 in the immediate aftermath of the financial crisis. Now, almost all member jurisdictions have substantively implemented the principles and standards for banks. The key jurisdiction that has not fully implemented is South Africa. IOSCO has produced a section compensation practices in the securities sector which concludes that practices vary widely but most members have some compensation-related regulation in place.