The following Financial Services practice note provides comprehensive and up to date legal information covering:
This Practice Note explains the high-level requirements of the IFPRU Remuneration Code (the Code) set out in FCA Handbook SYSC 19A. The Code sets out the standards that IFPRU investment firms have to meet when setting pay and bonus awards for their staff. This Practice Note also looks at the relationship between the Code and the other Remuneration Codes under Chapter 19B, 19C,19D and 19E of FCA Handbook SYSC and the CRR Remuneration Code contained in the Remuneration Part of the Prudential Regulation Authority (PRA) Rulebook.
The aim of the Code is to ensure that firms have risk-focused remuneration policies, which are consistent with and promote effective risk management and do not expose them to excessive risk. It expands upon the general organisational requirements in FCA Handbook SYSC 4. For information on SYSC 4, see Practice Note: Senior management arrangements, systems and controls .
Alongside the Code are these Remuneration Codes:
the AIFM Remuneration Code (AIFM Code) implements the remuneration requirements of the Alternative Investment Fund Managers Directive (2011/61/EU) and is set out in SYSC 19B of the FCA Handbook. For more information on AIFM remuneration and the AIFM Code, see Practice Note: AIFMD—Remuneration Code
the BIPRU Remuneration Code (BIPRU Code) applies to BIPRU firms. The BIPRU Code is found in SYSC 19C of the FCA Handbook. For more information
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in exchange for something of value, known as
Criminal offences are generally divided into two categories: •conduct crimes, and •result crimesA conduct crime is a crime where only the forbidden conduct needs to be proved. For example, an accused is guilty of dangerous driving if they drove a motor vehicle dangerously on a road or other public
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies,
What is quia timet relief?Injunctions are generally awarded where a party has already suffered a wrong. For guidance on injunctions generally, see Practice Note: Injunctions—guiding principles. However, an injunction may be sought before a party's rights have been infringed on the basis that they
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.