FSA code won't prevent further rewards for failure, experts warn

Phillips, Lucy
March 2009
People Management;3/12/2009, Vol. 15 Issue 6, p7
The article discusses the issues about the remuneration code of practice published by the Financial Services Authority (FSA) in Great Britain. The guidelines consist of proposals to provide bankers higher fixed salaries and to redesign bonus payments for them to be deferred in shares or not paid in unsuccessful years. Charles Cotton, adviser of Chartered Institute of Personnel and Development (CIPD), noted that the guidelines must address severance pay and pensions. Another concern about the guidelines is FSA's principle of deferring bonus payments.


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