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Clifford Chance

Clifford Chance


New Remuneration Code for MiFID Firms: Impact on Private Equity

14 October 2021

In July the FCA published its single remuneration code for FCA investment firms authorised under MiFID (the 'MiFIDPRU Code'). Aside from the largest investment firms that will be subject to CRD, all MiFID firms, including most PE firms, will be impacted. A copy of our full briefing can be found here.

The changes apply to remuneration awarded for performance periods starting on or after 1 January 2022, so timings are tight. For firms that are not used to the remuneration regulatory landscape these changes will signify a significant shift in how they approach remuneration policy and practice, and this will include PE firms.

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