Sunday, 29 November 2015
Last updated 1 day ago
Jul 29 2010 | 12:55pm ET
The U.K. Financial Services Authority plans to impose strict bonus rules on the country’s hedge funds, bringing Britain into line with recently-approved European Union restrictions.
The FSA said it would extend bonus rules that already apply to the country’s 27 largest lenders to more than 2,500 firms, including asset managers and hedge funds. Under the proposal, at least half of any variable remuneration must be paid in shares or some equivalent non-cash instruments. In addition at least 40% of bonuses will have to be paid out over three years; if the bonus exceeds £500,000, 60% must be deferred.
It is unclear exactly who will be covered by the new rules. The FSA said that those employees who “have a material impact on a firm’s risk profile” will have their bonuses subjected to the restrictions.
The regulator is welcoming comments on the proposals through October, and plans to implement the new runs on Jan. 1.
The new compensation rules mirror those approved by the EU, but will not be “super-equivalent” to them, the FSA said.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…