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Bonuses Financial Services Industry

Littler

Scrapping the UK Banker Bonus Cap — What Next for Financial Services Pay?

Littler on

Financial services firms regulated in the UK by both the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have long caused confusion, particularly in international financial services groups, with...more

Morgan Lewis

Bankers’ Bonus Cap Lifted: What It Means for UK Financial Services Employers

Morgan Lewis on

In a joint statement on 24 October 2023, the UK Prudential Regulation Authority (PRA) and UK Financial Conduct Authority (FCA) announced the removal of the cap on bonuses that can be paid to material risk takers at banks,...more

A&O Shearman

UK Regulators Confirm Bonus Cap Being Scrapped

A&O Shearman on

The U.K. Prudential Regulation Authority and Financial Conduct Authority have published a joint policy statement confirming the "bonus cap" will be removed. Banks are subject to compensation requirements for staff who have a...more

A&O Shearman

Bankers bonus cap lifted - what does it mean for the banks

A&O Shearman on

PRA and FCA plans to remove the bankers’ bonus cap requirements have been accelerated, giving banks flexibility to depart from a strict regulatory cap with immediate effect....more

Paul Hastings LLP

The U.K. Abolishes the Bonus Cap for Banks

Paul Hastings LLP on

The PRA and FCA have announced that the U.K. will be removing the bonus cap for individuals working in U.K. banks. The U.K.’s remuneration rules for the banking and financial services sector were introduced in the wake of...more

Burr & Forman

Seventh Circuit Reverses Summary Judgment on Fair Debt Collection Practices Claim Reasoning Lack of Standing

Burr & Forman on

On August 31, 2021, the Seventh Circuit Court of Appeals reversed a summary judgment decision from the United States District Court for the Northern District of Illinois, and remanded the action with instructions to dismiss...more

Troutman Pepper

CFPB Issues Rigorous New Guidance to Financial Services Industry Regarding Sales Incentives

Troutman Pepper on

The compliance burdens being placed on institutions to monitor all aspects of product sales will require a substantial expansion of the types and scope of reporting that are done for product sales. On November 28, the...more

Katten Muchin Rosenman LLP

Bridging the Week - January 2016 #2

FINRA Will Grade Members on Culture, Supervision and Liquidity Management; BDs Not Managing Spoofing Likely to Get Bad Scores: The Financial Industry Regulatory Authority kicked off the new year by issuing its annual...more

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