FCA proposes salary overhaul and end to discretionary bonuses

From 1 April 2022

James Baxter-Derrington
clock • 2 min read
Chief executive of the FCA Nikhil Rathi
Image:

Chief executive of the FCA Nikhil Rathi

The Financial Conduct Authority has launched a consultation in which it proposes to end discretionary bonuses and narrow salary ranges to ensure colleagues are fairly remunerated.

In an internal consultation, Nikhil Rathi, chief executive of the FCA, announced the regulator was proposing "tough decisions", including the removal of bonuses, which he said "have not been effective...

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