| FSA consults on changes to its Remuneration Code -continued | |||||
| The FSA also reports on the implementation of the Code so far, lessons learned from last year’s implementation and discusses progress made in achieving international alignment.
The FSA’s current Code applies to the largest banks, building societies and broker dealers. However, CRD3 will bring over 2,500 firms within the scope of the Code. These include all banks and building societies, asset managers, hedge fund managers, UCITS investment firms as well as some firms that engage in corporate finance, venture capital, the provision of financial advice and stockbrokers. The FSA does not intend the final rules to be super-equivalent to the CRD3 requirements unless required to do so by UK legislation. |
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| Source: FSA.gov.uk | |||||