This guidance relates to the Dual-regulated firms Remuneration Code in SYSC 19D. It provides general guidance about the operation of the dual-regulated firms remuneration principles proportionality rule and about part-year Dual-regulated firms Remuneration Code staff.
General guidance
This general guidance document has been revised to reflect the changes made to the Dual-regulated firms Remuneration Code.
Read this guidance in conjunction with our policy statement and other finalised guidance documents:
PS20/16: Updating the Dual-regulated firms Remuneration Code to reflect CRD V (PDF)[2]
FG20/5: Dual-regulated firms Remuneration Code (SYSC 19D): FAQs on remuneration (PDF)[3]
Who this applies to
This guidance applies to all firms that fall within the scope of the FCA’s Dual-regulated firms Remuneration Code in SYSC 19D, namely:
- banks
- building societies
- UK designated investment firms
- some overseas firms as defined in SYSC 19D.1.1R(1)(d)