We have published a joint statement with the PRA[1] welcoming the Financial Stability Board’s (FSB) Peer Review of the UK’s remuneration regime.
The report highlights how the UK closely follows the FSB Principles and Standards (P&S) for Sound Compensation Practices[2], as well as the effectiveness of how the FCA works and shares information with the PRA.
The UK is the first FSB member to be assessed by peers on the effectiveness of its remuneration reforms in the financial sector since the financial crisis and its consistency with the P&S.
This report is a positive assessment of the FCA and its role in the promotion of international standards, our commitment to the Senior Managers & Certification Regime[3] and high standards of conduct and culture.