Cracking the revised Code

With many more financial services institutions coming within the scope of the revised Remuneration Code, now in effect, compliance personnel should be working closely with other functions to determine how the rules apply to their firm. Tim Wright and Duncan Nicholls break down the steps involved.

Tim Wright (tim.wright@uk.pwc.com) and Duncan Nicholls duncan.e.nicholls@uk.pwc.com) are remuneration advisers at PricewaterhouseCoopers.

The FSA published its final Remuneration Code on 17 December 2010. The changes mean around 2,700 FSA regulated organisations are now subject to the Code and need to take action immediately in order to comply.