FINANCIAL SERVICES
PwC Live webcast: FSA revised Remuneration Code
- What do you need to do now?
Here’s a diary date for reward professionals in the financial services industry. PricewaterhouseCoopers is broadcasting a live webcast next Monday examining how the Financial Services Authority’s revised Remuneration Code will affect different organisations and what steps they will need to take to comply before the deadlines.
The FSA issued its final Remuneration Code on 17 December 2010, which took effect from 1 January 2011. The changes mean that some 2,700 FSA-regulated organisations are now affected by the Code and need to take action now.
Jon Terry, remuneration partner at PwC, said: "This is not a ‘bump in the road’; change is here to stay and bonuses will not revert to how they were a year or so ago. Not only will the structure of bonuses be significantly different, with up to 60% deferred and half of the upfront sum paid in shares, but the way performance is assessed has changed.”
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He added: “Employees will not only be judged on the profits they 'make' but broader criteria, including some related to risk management. In addition, greater public disclosure on pay levels combined with regulators' focus on total bonus spend - and whether it puts the firm's capital base at risk - is likely to have an impact in the longer term. One question is the extent to which base salaries will increase to compensate."
Want to know more?
Title: PwC Live webcast: “FSA revised Remuneration Code
- What do you need to do now?”, PricewaterhouseCoopers, 10.00am Monday 10 January 2011.
Webcast overview
In this live webcast PwC will look at how the Code affects different organisations and what steps you need to take to comply before the deadlines.
Webcast details and how to attend
Date: The webcast will be live from 10.00am (GMT) Monday 10 January 2011.
Duration: The webcast will last approximately 30 minutes and you will have the opportunity to put your questions to PwC specialists during the webcast.
To attend
To view the webcast click on the following link from 9:55am on the day: www.pwcplayer.co.uk/webcasts/0111_fsa_webcast/.
Want to know more?
PricewaterhouseCoopers firms provide “industry-focused assurance, tax and advisory services to enhance value for their clients”. More than 161,000 people in 154 countries in firms across the PwC network “share their thinking, experience and solutions to develop fresh perspectives and practical advice”. For more information visit www.pwc.com/uk.