Prudential Regulation Authority Rulebook

10.1

A firm that benefits from exceptional government intervention must ensure that:

1. (1) variable remuneration is strictly limited as a percentage of net revenues when it is inconsistent with the maintenance of a sound capital base and timely exit from government support;
2. (2) it restructures remuneration in a manner aligned with sound risk management and long-term growth, including when appropriate establishing limits to the remuneration of members of its management body; and
3. (3) no variable or discretionary remuneration of any kind is paid to members of its management body unless this is justified.

[Note: Art. 93 of the CRD and Standard 10 of the FSB Compensation Standards]

[Note: CRD]