RTTNews - The UK's Financial Services Authority is set to release the final remuneration code for bankers on Wednesday, the reports said.
FSA chief executive Hector Sants said the FSA's new guidelines are designed to ensure that boards prevent management from introducing compensation policies that would ultimately subordinate the interests of capital providers to those of employees, the Financial Times reported. The new code will focus on demanding bank boards and management to link pay more closely to risk.
Earlier in the week, Sants told BBC that the new guidelines would make it clear that institutions cannot calculate bonuses in a way that encourages unreasonable risk taking and puts the institution at risk.
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