Podcast — UK FinReg Focus Areas in 2025: Wholesale Markets
The European Banking Authority (EBA) has issued its latest report on remuneration and gender pay gap benchmarking for institutions and investment firms, together with a press release. The report covers information on...more
In the aftermath of the 2007-09 global financial crisis, the G20 nations committed to reforming bank remuneration frameworks in response to criticism that excessive risk-taking at banks incentivised by poorly structured pay...more
The UK’s Financial Conduct Authority ("FCA") and Prudential Regulation Authority ("PRA") have issued a joint consultation aimed at making dual-regulated firms’ remuneration regimes more effective, simple and proportionate...more
On 26 November 2024, the PRA and the FCA published a joint Consultation Paper on changes to the remuneration rules (PRA CP16/24, FCA CP24/24). The changes are relevant to banks, building societies, and PRA-designated...more
2024 promises to be another busy year in the regulatory remuneration space. Banks will already be thinking about changes to their arrangements now the bonus cap has been lifted. Here’s a round-up of what else is new – some of...more
1. Bank regulation - 1.1 Prudential regulation - (a) General - (i) EU - EBA: Roadmap on strengthening the Prudential framework - Status: Final - The EBA has published its roadmap on the Banking Package, which...more
UK regulators have recently announced a number of reforms for banks and other financial institutions. - On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more
Planning for the 2024 annual reporting season is underway. We summarise the key legislative changes affecting London-listed companies for the upcoming season along with best practice recommendations....more
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
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
As predicted in our February 1, 2023, client alert, “ESG in 2022 and Predictions for 2023,” a global economic slowdown and ongoing backlash in the U.S. have slowed the momentum of some aspects of the environmental, social and...more
The EBA has launched a consultation on two RTS and ITS on the functioning of supervisory colleges under the CRD. These new technical standards will ensure that the Level 2 framework for the functioning of supervisory colleges...more
ECB in focus is our blog dedicated to the banking supervisory activities of the European Central Bank (ECB). We report on key developments in European banking regulation led by the ECB as part of the Single Supervisory...more
Here are key points made by the all general counsel panel on various topics. Key Points: Physician remunerative relationships, OIG Special Fraud Alert on Speaker Programs, & Virtual Interactions...more
Welcome to May's edition of the UK Tax Round Up. This month has seen a number of interesting court decisions, an important opinion of the European Commission’s Advocate General and the commencement of a Treasury consultation...more
This newsletter focuses on two recent legal updates in the agri-food sector: ..The Egalim 2 Law, adopted on 19 October 2021, is aimed to grant guaranties to the French food sector. More specifically, this law intends to...more
Our monthly regulatory newsletter monitors all relevant developments regarding German and European regulatory law in English language. ...more
Am 24. November 2021 läuft die Feststellung der „epidemische Lage von nationaler Tragweite“ aus, die der letzte Bundestag im August 2021 noch einmal verlängert hatte. Es sieht nicht danach aus, dass der neu konstituierte...more
"Clawback clauses" state that employees must refund all or part of their variable bonus if it is determined that the bonus should not have been paid out in the first place. ...more
Articles 18 to 23 of the 2019 Copyright Directive in the Digital Single Market were implemented into French law along with Article 17, by statutory instrument adopted on 12 May 2021. The statutory instrument has expanded...more
On 23 June 2021, the French Government issued a Statutory Instrument implementing Directive (EU) 2019/789 that complements the rules set out in the 1993 Satellite and Cable (“SatCab”) Directive. The Ordonnance promotes the...more
Nach Art. 5 der OffenlegungsVO muss die AIF-KVG, ein „Finanzmarktteilnehmer“ im Sinne der Verordnung, im Rahmen ihrer „Vergütungspolitik“ (remuneration policy) angeben, „inwiefern diese mit der Einbeziehung von...more
Every player interested or already active in the German market needs to have a working knowledge of the key principles of German employment law which offers a good level of protection to employees. This is especially true for...more
Amendments have been made to the FCA’s Dual-Regulated firms Remuneration Code under SYSC 19D and the Remuneration Part of the PRA Rulebook (together the “Remuneration Codes”) to implement the remuneration aspects of the EU...more
Investors have historically overlooked social factors amid a focus on the environmental and governance counterparts as they assess the merit of an investment. This may have been due in part to the difficulty in quantifying...more