The FSA Produces Final(ly) Remuneration Code Rules

Summary:  On 17 December 2010, the Financial Services Authority (“FSA”) published its final Remuneration Code rules (the “Code”). The Code comes into force on 1 January 2011. Unlike the current Remuneration Code, which applies to fewer than 30 firms, the Code will apply much more widely (the FSA’s estimate is that in excess of 2500 firms will be affected). Firms will therefore need in short order to evaluate the extent to which the Code applies to them and their staff.