FSA Consultation on Remuneration Code

The EU Capital Requirements Directive III (“CRD3”) “is starting to be implemented in Europe. There is a very tight time frame for each Member State to implement it and have operational - 1 January 2011.

The UK FSA has published its consultation paper on proposed revisions to its Remuneration Code. The proposed changes incorporate the amendments required by CRD3, the new powers conferred by the Financial Services Act 2010 and the recommendations of the Walker Review.