Tuesday, 6 October 2015
Last updated 18 hours ago
Jan 25 2012 | 7:19am ET
British regulators may extend compensation and bonus rules for banks to alternative investment firms.
The Financial Services Authority is considering how to come into compliance with a 2010 European Union law, which gives the new European Securities and Markets Authority power to regulate hedge fund and private equity pay. ESMA has yet to set those compensation standards—and the FSA believes its current rules may be good enough—but the U.K. markets watchdog is moving forward, anyway.
The FSA said it may create “a remuneration code to apply specifically to Alternative Investment Fund Managers, but modeled closely on the existing code” for banks and other financial services firms. Such rules would be designed to “control risk-taking behavior by reducing the potential adverse impact of poorly-defined remuneration schemes.”
May 27 2015 | 2:15pm ET
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