The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Wed, 06 May 2026 11:32:48 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Regulating UK Bankers’ Pay – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Regulating UK Bankers’ Pay https://corpgov.law.harvard.edu/2010/08/29/regulating-uk-bankers-pay/?utm_source=rss&utm_medium=rss&utm_campaign=regulating-uk-bankers-pay https://corpgov.law.harvard.edu/2010/08/29/regulating-uk-bankers-pay/#comments Sun, 29 Aug 2010 14:42:15 +0000 http://blogs.law.harvard.edu/corpgov/?p=12388?d=20150120100557EST Posted by Scott Hirst, co-editor, HLS Forum on Corporate Governance and Financial Regulation, on Sunday, August 29, 2010
Editor's Note:

This post comes to us from John J. Cannon, a partner in the Executive Compensation and Employee Benefits Group Shearman & Sterling LLP, and is based on a Shearman & Sterling Client Memorandum.

Introduction

On 29 July 2010, the UK’s Financial Services Authority (the “FSA”) published a consultation paper which sets out proposals to make significant amendments to its existing Remuneration Code (the “Code”). [1] If implemented in the proposed form, these revisions will have a significant impact on how remuneration policies and practices at UK financial institutions (and some foreign financial institutions operating in the UK) are operated. In particular, the revisions will mean that the Code will now be significantly expanded in its scope of application and will introduce relatively prescriptive rules on bonus deferrals, proportions of bonuses that must be paid in shares and guaranteed bonuses.

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