Thank you to those firms that sent their views on the Remuneration Code proposals to us (Regulatory Roundup 20 refers).
It is clear that the two major themes are (a) how the Code is to be applied to LLP structures – particularly the ‘shares’ requirement in respect of variable remuneration and (b) the potential impact on small or start-up firms that might struggle to compete on salaries and instead rely on potential bonuses to attract the required talent.
We have now submitted appropriate feedback to the FSA Remuneration Code project team.
