FIN. TeamThe FCA has published a Policy Statement (PS18/7) and Finalised Guidance (FG18/2) on staff incentives, remuneration and performance management in consumer credit.
The Policy Statement sets out final rules for staff incentives, remuneration and performance management in consumer credit firms. The Finalised Guidance sets out examples of good and bad practice observed by the FCA relating to incentive scheme features, performance management practices and the management of risks from incentive schemes and performance management.
The Rules and Guidance come into force on 1 October 2018.
