FSA extends pay and bonus code
- FSA looks to extend a clampdown on banker payouts to a much wider range of jobs in finance
- Scope includes hedge funds, asset managers, venture capitalists, stockbrokers & corporate finance operations
- Critics express concerns about a brain drain of the UK's best financial talent
The Financial Services Authority (FSA) is looking to put an end to a remuneration culture in the City that encourages excessive risk taking, as it prepares to extend a clampdown on banker payouts to a much wider range of jobs in finance.
The City regulator has begun a consultation on its remuneration code and has warned that its scope would have to expand from the 27 companies currently affected to 2,500 as a result of new European rules, known as the capital requirements directive.
To read the rest of the article you'll need to log in below
If you've forgotten your details click here for a reminder.
If you haven't got an account, it's free and it only takes a minute to set one up,
click here to register