We have finalised our guidance on the AIFM remuneration code (SYSC 19B).
This work is a result of our consultation in September 2013, which closed in November 2013. We have briefly summarised the comments received, our responses and the consequential changes to the guidance in the Handbook Notice.
Our guidance explains, among other things, how an AIFM should:
- take into account proportionality.
- consider payments made to partners if the AIFM is structured as a partnership.
- pay its relevant staff in units, shares or other instruments.
The Handbook Notice dated January 2014 with the instrument updating SYSC 19B and FUND.