Authors: Alexandra Beidas, Bradley Richardson

FCA consultation on IFPR remuneration disclosure requirements

The FCA is consulting on its proposed approach to the public disclosure of remuneration under the Investment Firms Prudential Regime. This follows the recent near-final MIFIDPRU pay rules, applying in the UK for performance periods from 1 January 2022.

The disclosure requirements are quite prescriptive. For larger firms they seem at least as detailed as for banks.  But the FCA says that firms can apply the requirements on a proportionate basis, although this seems to refer to the level of detail, but not to “turning off” the minimum required disclosures.