Remuneration Code – Consultation On Key Remaining Areas Of Implementation

When the Remuneration Code was revised in December last year, the FSA said that it would still be taking some outstanding issues forward in 2011.  It has now published consultation papers and further information in a number of areas.

These include:

• consultation on a proposed retention requirement of six months for shares which are received under remuneration awards;
  
• consultation on notification and other requirements for guaranteed bonuses which can comply with the Remuneration Code;
  
• consultation on a proposal to extend the transitional period (which was due to expire on 30 June 2011) in which firms without a quoted parent do not have to pay at least 50% of variable remuneration in shares, pending further work on what suitable alternatives might be;