12 April 2017 - SS27/15 has been superseded by SS2/17
Published on 23 June 2015
For information only, the original publication issued on 23 June 2015 is available below.
This supervisory statement, together with the existing statements ‘Remuneration standards: the application of proportionality’ (LSS8/13) and ‘PRA expectations regarding the application of malus to variable remuneration’ (SS2/13) clarify PRA expectations on how firms should comply with the requirements of the Remuneration Part of the Rulebook, enabling firms to make judgements which advance the objectives of the PRA. Areas covered include:
- Types of remuneration;
- Material risk takers;
- Proportionality;
- Firm-wide application;
- Governing body/remuneration committees;
- Risk management and control functions;
- Remuneration and capital;
- Risk adjustment;
- Personal investment strategies;
- Remuneration structures; and
- Breaches of the remuneration rules.
This statement is intended to be read together with the rules contained in the Remuneration Part.
Supervisory Statement 27/15