Lucy HadrillFCA has published its latest report on its “5 Conduct Questions” initiative. It notes the changes that wholesale banking firms have been making to their conduct and culture as a result of it since 2015, and...
Category - Remuneration
Emma Radmore
Jonny WilliamsEBA updates risk taker RTS
EBA has published its final draft RTS on the criteria to define material risk takers for CRD purposes. It has published the revised standards to define and harmonise the criteria across the EU. An individual member of...
Extension of the Senior Managers and Certification Regime comes into force
The FCA has extended the Senior Managers and Certification Regime (SM&CR) to solo-regulated firms, including senior managers and certification staff in those firms. The SM&CR already applies to the banking and...
Rachael PrestonInvestment firm legislation in OJEU
The Directive and Regulation making changes to existing laws on prudential requirements for, and supervision of, investment firms, have been published in the Official Journal. The legislation makes several significant...
FCA updates on Remuneration Code expectations
FCA has written its annual letter to RemCo chairs of Level 1 firms. The letter sets out what FCA has found on accountability, ex-post risk adjustments and diversity and inclusion. The letter: notes the responsibilities...
Wholesale brokers ignore Dear CEO letter at their peril
FCA has written a Dear CEO letter to wholesale brokers setting out its thoughts on the key harms the sector poses. The letter explains that MiFID 2 and MAR have significantly raised expectations on market participants...