Consultation opens
12/05/2023
Consultation closes
09/06/2023
09/06/2023
We're consulting on proposed changes to the remuneration rules for dual-regulated firms.
We want to ensure our remuneration rules for smaller, less complex dual-regulated firms are proportionate to the risks they pose to consumers and markets in the UK.
We propose changes to our proportionality thresholds. We also propose to exempt firms meeting the updated proportionality thresholds from the requirements relating to malus and clawback.
We are also proposing some minor changes to the current rules to address some differences between the FCA Handbook and the PRA Rulebook.
This consultation applies to:
The following may also be interested in this consultation:
Please respond to this consultation by 9 June 2023.
The changes we want to make to the rules are broadly consistent with the changes proposed by the Prudential Regulation Authority (PRA) in their Consultation Paper, Remuneration: Enhancing proportionality for small firms (CP5/23). This consultation should be read alongside the PRA’s consultation.