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...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space

  • Get ahead of regulatory and technological changes affecting fund management

  • Important and breaking news stories selected by the editors delivered straight to your inbox each day

  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts

  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

“We are particularly mystified about why wealthy investors warrant special treatment,” Dzmitry Lipski, head of fund research at interactive investor, said.

LTAF: Industry asks why wealthy investors warrant 'special treatment'

Notice period raises concerns

James Baxter-Derrington
clock 25 October 2021 • 2 min read
The new LTAF regime is likely to form the basis of the redesign of the open-ended property fund sector

LTAF will require minimum 90-day notice period and lays groundwork for property fund overhaul

Groundwork for property funds

James Baxter-Derrington
clock 25 October 2021 • 2 min read
Thomas Coughlin of Kinesis Money

Fool me twice: The lessons we are yet to learn in the 100 years since Weimar hyperinflation

Need to recognise inherent flaws in current system

Thomas Coughlin
clock 22 October 2021 • 3 min read