The FCA has published on its website a letter that was sent to remuneration committee chairs of firms that fall within proportionality tier 1. The letter is dated November 2014 and was prepared, as firms went into the 2014/15 remuneration round, to highlight the FCA’s expectations on the application of malus that it expected a remuneration committee to meet. Firms are advised that the letter should be considered in the context of any previous firm-specific feedback that they have previously received from the FCA and which still remains valid.

View FCA letter to Remco chairs concerning embedding the application of ex post performance adjustment – update for the 2014/15 remuneration round, November 2014