The main changes to the previous proposals which the FSA consulted on are as follows:
· Proportion in Shares – CEBS guidelines state that at least 50% of variable remuneration should consist of shares (or other specified instruments) and that this should be applied equally to both the deferred and undeferred portions.
· Retention period – CEBS guidelines state that variable remuneration paid in shares (or other specified instruments) should be subject to an appropriate retention period.
· Guaranteed bonuses – Provisions on guaranteed bonuses should be applied on a firm-wide basis and not just to ‘Code staff’, in line with both CEBS guidelines and the FSB standards.
© FSA - Financial Services Authority
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article