Ongoing focus: The FCA, remuneration and incentives

The FCA, remuneration and incentives

clock

Aileen Lynch analyses the FCA's continuing focus on remuneration and incentives in financial services...

The Financial Conduct Authority (FCA) (and its predecessor) has a continuing focus on remuneration and incentives.  The supervisory work it has carried out on other issues suggests that many consumer credit firms may be operating high-risk incentive schemes, which can often lead to poor consumer outcomes if not managed effectively. Work carried out between 2012 and 2014 found that a number of firms (including banks and insurers) had schemes that were likely to drive mis-selling. The FCA has recently updated and reinforced its guidance to all firms in light of further findings deriv...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Trade bodies call for chancellor to stop FCA public enforcement

Trade bodies call for chancellor to stop FCA public enforcement

‘Proposals to publicise investigations are a worrying development’

Isabel Baxter
clock 29 April 2024 • 2 min read
SDR extension plans will ensure 'uniform standard' for portfolios

SDR extension plans will ensure 'uniform standard' for portfolios

'Retail-focused firms are also facing a short timeline to prepare'

Cristian Angeloni
clock 24 April 2024 • 4 min read
FCA proposes advisers and platforms 'must' communicate SDR labels

FCA proposes advisers and platforms 'must' communicate SDR labels

Distributors also must provide access to consumer-facing disclosures

Isabel Baxter
clock 23 April 2024 • 1 min read