Clifford Chance

UK's Prudential Regime for MiFID Investment Firms: FCA Publishes Consultation on New Remuneration Code

26 April 2021

The FCA has published a second consultation paper on its new investment firm prudential regime. As anticipated, a single remuneration code is being proposed for FCA investment firms authorised under the Markets in Financial Instruments Directive ('MIFID') (to be known as 'the MIFIDPRU Remuneration Code').

This will become new SYSC 19G in the Handbook and will replace the BIPRU and IFPRU Remuneration Codes. It will apply to performance periods beginning on or after 1 January 2022. 

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