FCA Removes Cap On Bankers' Bonuses To Mixed Reactions

Eve Maddock-Jones
clock

• 2 min read

UK regulators have moved to scrap the cap on bankers’ bonuses from the end of this month, following ten months of examination.

The Financial Conduct Authority approved the changes as part of its joint review with the Prudential Regulation Authority to examine the existing limits on the ratio between fixed and variable components of total remuneration - ‘the bonus cap'. The current policy cap was first introduced in 2014 and former chancellor of the exchequer Kwasi Kwarteng vowed to overhaul the rules in the government's Mini Budget. FCA turns attention to private market valuations The revision will also apply to bonuses in building societies and PRA-designated investment firms. Originally the rules plac...

To continue reading this article...

Join Investment Week for free

Signup and gain exclusive members-only insights - all free of charge!

  • 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

RECENT NEWS

What A Rising VIX Means For Pension Funds

Wall Street’s latest selloff has moved beyond a technology-sector wobble and become a broad market event. The Nasdaq C... Read more

Behaviour Cannot Fix A Portfolio Construction Flaw

A Retiree Shouldn't Be Asked to Behave Their Way Out of a Portfolio Construction Problem Why behavioural coaching shoul... Read more

Behavioural & Retirement Portfolio Resilience

Behavioural Survivability and Retirement Portfolio Resilience Why the lived experience of market recovery matters as mu... Read more

Australia's Rate Rise Bites: Highest In 15 Years

The Reserve Bank of Australia has lifted interest rates to their highest level since 2011, and its governor admits the w... Read more

October Retirement Portfolio Resilience Assessment

Markets stabl Read more

Gyrostat September Retirement Portfolio Resilience Assessment

September Retirement Portfolio Resilience Assessment Markets have fallen. The price of risk has risen. ... Read more