MIFIDPRU—Remuneration Code

Copyright © 2025 LexisNexis

Published by a LexisNexis Financial Services expert

Practice notes

MIFIDPRU—Remuneration Code

Copyright © 2025 LexisNexis

Published by a LexisNexis Financial Services expert

Practice notes

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Investment Firms Prudential Regime (IFPR), MIFIDPRU and the MIFIDPRU Remuneration Code

The UK Investment Firms Prudential Regime (IFPR) entered into force on 1 January 2022. For information on the IFPR, see Practice Note: The UK investment firms prudential regime (IFPR).

The IFPR is implemented in part by MIFIDPRU and the MIFIDPRU Remuneration Code (SYSC 19G) (the Code) in the Financial Conduct Authority (FCA) Handbook.

MIFIDPRU replaced BIPRU and IFPRU in the FCA Handbook, and SYSC 19G replaced the BIPRU and IFPRU Remuneration Codes.

SYSC 19G entered into force on 1 January 2022, with firms needing to apply the new rules from the start of their next performance year beginning on or after 1 January 2022. The Code sets out the minimum regulatory requirements in relation to remuneration for a MIFIDPRU investment firm that are appropriate and proportionate to the risks inherent in the business model and activities of the MIFIDPRU investment firm. The proportionality principle set out in SYSC 19G.2.4R means that the content and level of detail of a MIFIDPRU investment firm’s remuneration policy may depend on a number of

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Jurisdiction(s):

United Kingdom

Key definition:

MiFID definition

What does MiFID mean?

The markets in financial instruments directive (Directive 2004/39/EC) which was repealed and recast by mifid ii and MiFIR.

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