Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

BonusesLatest NewsPay & benefits

FSA opens consultation on new pay transparency rules

by Daniel Thomas 10 Nov 2010
by Daniel Thomas 10 Nov 2010

The Financial Services Authority (FSA) today opened a consultation on the implementation of forthcoming new rules governing the disclosure of pay and bonuses in the finance sector.

Under the Capital Requirements Directive, which comes into effect in January, financial services firms will have to release details of their pay and bonus policies on an annual basis.

The FSA is consulting on exactly what should be disclosed, such as the decision-making process, the link between pay and performance, key characteristics of remuneration systems and the criteria used for assessment.

In the consultation document, the FSA proposes that the top 26 institutions should give a breakdown on how much of bonuses are paid in cash or shares.

Banks will not have to name top-earning employees, apart from directors, by name or title but will have to provide aggregate information on pay, broken down by senior management and other risk-taking groups such as traders, the consultation says.

Other financial services firms will have to disclose more general information on their remuneration, on a tier-based system categorising companies by their size or systemic importance.

Tom Gosling, reward partner at professional services firm PricewaterhouseCoopers, said: “The Treasury has passed the disclosure baton to the FSA and the result has been a less onerous regime than originally feared.

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

“The consultation sets out largely sensible disclosure requirements relating to banks’ remuneration policies for senior management. The information should help shareholders make informed judgments about how remuneration takes account of risk in banks. The proposals do not include some of the more prescriptive elements of previous proposals, such as disclosure by pay bands. This should help prevent the unintended consequences that can sometimes follow pay disclosure, for instance pay ratcheting.”

Also this month, XpertHR spoke to executive pay experts about the various attempts to rein in high pay and bonuses in the finance sector (subscription required) over the past two years and what the future holds.

Daniel Thomas

previous post
Communicate IT security policies more clearly, employers urged
next post
Aurion Learning recognised as an ‘InterTradeIreland Business Ambassador’

You may also like

Performance management is broken: how can we rebuild?

11 Jul 2025

Gregg Wallace case: don’t be too hasty to...

11 Jul 2025

‘Replace sick notes with gym’, Streeting tells GPs

11 Jul 2025

Workers with second jobs at an all-time high

11 Jul 2025

How using data can transform return-to-office mandates

11 Jul 2025

Ministers loosen fire and rehire proposals in Employment...

10 Jul 2025

£188k tribunal award for director sacked after cardiac...

10 Jul 2025

It’s no secret – parity in the workplace...

10 Jul 2025

Firms’ salary secrecy means ‘they lose out on...

10 Jul 2025

Court of Appeal rules that Ryanair agency pilot...

9 Jul 2025

  • Empower and engage for the future: A revolution in talent development (webinar) WEBINAR | As organisations strive...Read more
  • Empowering working parents and productivity during the summer holidays SPONSORED | Businesses play a...Read more
  • AI is here. Your workforce should be ready. SPONSORED | From content creation...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+