Code Staff: Difference between revisions
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''UK'' | ''UK.'' | ||
Term applied to senior management, risk takers and staff in control functions in banks, building societies, some investment firms and alternative investment fund managers whose remuneration is subject to the UK [[Financial Conduct Authority]]'s [[http://www.fca.org.uk/firms/being-regulated/remuneration-codes | Term applied to senior management, risk takers and staff in control functions in banks, building societies, some investment firms and alternative investment fund managers whose remuneration is subject to the UK [[Financial Conduct Authority]]'s Remuneration Codes [[http://www.fca.org.uk/firms/being-regulated/remuneration-codes]]. This system was introduced in 2010. | ||
The European Union requires similar provisions under the Capital Requirements Directive IV ([[CRD IV]]). This Regulatory Technical Standard ([[RTS]]) came into force in 2014 as the [http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2014.167.01.0030.01.ENG Delegated Regulation with regard to Identified Staff], and uses the term 'identified staff'. 'Code Staff' continues to be used in the UK. | |||
[[Category:Compliance_and_audit]] | |||
Revision as of 10:26, 17 February 2015
UK.
Term applied to senior management, risk takers and staff in control functions in banks, building societies, some investment firms and alternative investment fund managers whose remuneration is subject to the UK Financial Conduct Authority's Remuneration Codes [[1]]. This system was introduced in 2010.
The European Union requires similar provisions under the Capital Requirements Directive IV (CRD IV). This Regulatory Technical Standard (RTS) came into force in 2014 as the Delegated Regulation with regard to Identified Staff, and uses the term 'identified staff'. 'Code Staff' continues to be used in the UK.
