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Home > Prudential Regulation Authority > CRD IV: data collection on remuneration practices – PS 11/14
 

CRD IV: data collection on remuneration practices – PS 11/14

07 November 2014

Background

This joint Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) policy statement (PS) sets out the responses to feedback received from the consultation on data collection on remuneration practices PRA CP17/14 (FCA CP14/19), which closed on 17 October together with the finalised data collection rules.  The regulators’ remuneration data reporting requirements are relevant for banks, building societies, PRA-designated investment firms and IFPRU (Prudential Handbook for Investment Firms) investment firms (including other types of firms where they are included in the scope of consolidation of an institution for which data is to be collected).

All respondents agreed with the PRA’s and FCA’s approach to implementing the EBA Guidelines on both the High Earners Report and the Benchmarking Report. The scope for PRA-regulated firms remains unchanged.

The new rules will be incorporated as amendments to the Supervision manual (SUP) in the FCA Handbook (SUP 16.17 (Remuneration Reporting) and associated forms/guidance notes) and to the Remuneration part of the PRA Rulebook. Firms are now required to submit data in the new template. The rules come into force on 7 November 2014.

PS11/14 is also available on the FCA’s website as PS14/14.

Policy Statement

CRD IV: data collection on remuneration practices – PS11/14

Remuneration Code data templates

Consultation Paper

CRD IV: data collection on remuneration practices – CP17/14


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