FSA denies double standards in remuneration guidelines

The regulator says it recognises the need for firms to offer competitive remuneration packages but says an industry comparison "should be a secondary rather than a primary factor" in their determination. But in its Business Plan for 2009/10, the FSA said the salaries it offers "must be comparable with the external market" and earmarked £10m to give pay rises to staff whose salaries are now "out of line". The guidance forms part of a draft code of practice on remuneration policies issued today, which the FSA will consult on. FSA spokesperson Heidi Ashley says: "We are not a commercial ...