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PRA and FCA propose reform to ease bank remuneration rules

City workers walk under the clocks of Nash Court across Reuters Plaza to commute to work in Canary Wharf financial district London, England, United Kingdom.
Photo: Andrew Aitchison/Getty Images
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Billy Bradley, CMS; Mark Walker, CMS; Connie Fan, CMS

8 min read

Assessing proposals to make the remuneration regime for banks “more effective, simple and proportionate”, while still ensuring accountability for risk taking and appropriate outcomes for consumers and markets.

On 26 November 2024, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) (together the Regulators) published a joint Consultation Paper (PRA CP 16/24, FCA CP 24/23) on reforming the remuneration regime applicable to banks, building societies, and PRA-designated investment firms.  

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