Authors: Alexandra Beidas, Bradley Richardson

UK - PRA and FCA consultations on the CRD V remuneration rules

The FCA and PRA have published consultations on the implementation of the CRD V remuneration provisions in the UK, which will affect all bank institutions, banking groups and dual-regulated investment firms irrespective of size.

For most banking groups the changes will apply from 1 January 2021 – which means that remuneration policies need to be updated, and changes communicated to employees, during 2020.

We have summarised some of the key points, and would be happy to discuss the detail of the consultations and what they mean for you further.