The proposed changes to the Remuneration Code (basically the current SYSC 19 will be deleted and replaced by new text) was covered in Regulatory Roundup #18 & #19.
Not surprisingly, there has been a good deal of interest – and comment – from our clients on CP10/19.Where possible, we would encourage firms to let their views be known to the FSA by sending appropriate responses to the FSA; page 3 of the CP provides details. The FSA provide a response form, or if more convenient you can email the FSA.
Having said that, we appreciate that some firms are reluctant to approach the FSA. If appropriate, Complyport would be happy to submit their views on this controversial topic to the FSA on a strictly no names basis.
If this would be of interest to any firm then please email us with your observations, comments etc. using either the contact details in this Regulatory Roundup or those of your usual Complyport relationship manager.
It will be appreciated that whilst our intention would be to forward on any comments we receive we must reserve the right to modify or edit contributions where we deem necessary in exceptional circumstances. Where we receive several comments expressing the same view we may submit a single consensus comment.
Note that comments have to be received by the FSA by 8 October.
