Politics & Regulation

AIMA prepares response to FSA on remuneration amid industry alarm


The Alternative Investment Management Association is planning to respond to the UK Financial Services Authority’s consultation paper on remuneration, which was published during the summer and has caused a great deal of concern among hedge funds and other investment management firms.

The consultation paper, titled ‘Revising the Remuneration Code’, follows changes to the European Union’s Capital Requirements Directive (CRDIII). The paper proposes changes to the FSA’s existing remuneration code, which was introduced on 1 January and currently applies to 27 of the largest banks, building societies and broker/dealer firms.

If the proposed amendments are implemented, the code would be