CP13/6 - CRD IV for Investment Firms - Financial Conduct Authority

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FCA 2013/XX [Note: Standards 6 and 9 of the FSB Compensation Standards] 19C.3.52 E (1) A firm should reduce unvested deferred variable remuneration when, as a minimum: (a) (b) (c) there is reasonable evidence of employee misbehaviour or material error; or the firm or the relevant business unit suffers a material downturn in its financial performance; or the firm or the relevant business unit suffers a material failure of risk management. (2) For performance adjustment purposes, awards of deferred variable remuneration made in shares or other non-cash instruments should provide the ability for the firm to reduce the number of shares or other non-cash instruments. (3) Contravention of (1) or (2) may be relied on as tending to establish contravention of the rule on performance adjustment (SYSC 19C.3.51R). 19C.3.53 G (1) Variable remuneration may be justified, for example, to incentivise employees involved in new business ventures which could be lossmaking in their early stages. (2) The governing body (or, where appropriate, the remuneration committee) should approve performance adjustment policies, including the triggers under which adjustment would take place. The FCA may ask firms to provide a copy of their policies and expects firms to make adequate records of material decisions to operate the adjustments. Part 2: Comes into force on 1 July 2014. 4.3A.7 R (1) A CRR firm that is significant in terms of its size, internal organisation and the nature, the scope and the complexity of its activities must ensure that the members of the management body of the firm do not hold more than one of the following combinations of directorship in any organisation at the same time: (a) (b) one executive directorship with two non-executive directorships; and four non-executive directorships. (2) (1) does not apply to members of the management body that represent the UK.
[Note: article 91(3) of the CRD] FCA 2013/XX
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Financial Conduct Authority Consult
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We are asking for comments on this
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CP13/6 CRD IV for Investment Firms
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CRD IV for Investment Firms CP13/6
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FCA 2013/xx Annex A Prudential sour
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FCA 2013/xx (a) (b) deal on own acc
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FCA 2013/xx 1.1.14 G A firm also fa
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FCA 2013/xx connected with, its reg
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FCA 2013/xx 2.1 Application 2.1.1 R
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FCA 2013/xx (a) (b) (c) the nature
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FCA 2013/xx losses because its inco
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FCA 2013/xx 2.2.18 R A firm must ha
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FCA 2013/xx [Note: article 83(3) of
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FCA 2013/xx (b) (c) sudden and seve
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FCA 2013/xx (b) provide the resolut
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FCA 2013/xx between each firm which
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FCA 2013/xx in a number of risk cat
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FCA 2013/xx Capital planning 2.2.73
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FCA 2013/xx approving and actioning
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FCA 2013/xx financial situations or
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FCA 2013/xx activities (IFPRU 2.2.1
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FCA 2013/xx suggested. 2.3.17 G The
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FCA 2013/xx (3) what plan is in pla
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FCA 2013/xx 2.3.35 G For a firm tha
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FCA 2013/xx that considers the poss
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FCA 2013/xx unexpected cash flows l
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FCA 2013/xx (1) a failure by a firm
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FCA 2013/xx single counterparty; (b
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FCA 2013/xx (4) that it has in plac
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FCA 2013/xx that firm. Calculation
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FCA 2013/xx 3.2.8 R A firm must dem
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FCA 2013/xx 126(2), 178(1)(b), 243(
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FCA 2013/xx (1) whether there is an
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FCA 2013/xx 4.3.8 G A significant I
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FCA 2013/xx set out but are outside
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FCA 2013/xx requirements in article
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FCA 2013/xx standards for data qual
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FCA 2013/xx Definition of default:
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FCA 2013/xx Variable scalar conside
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FCA 2013/xx Data considerations 4.3
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FCA 2013/xx (b) (c) (eg, external a
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FCA 2013/xx will allow such cures t
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FCA 2013/xx and not be based purely
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FCA 2013/xx downturn conditions, a
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FCA 2013/xx Direct estimates of EAD
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FCA 2013/xx Netting 4.3.119 G For c
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FCA 2013/xx 4.3.131 G As with all a
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FCA 2013/xx Low default portfolios
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FCA 2013/xx Other requirements 4.3.
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FCA 2013/xx 4.4.4 G A firm should n
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FCA 2013/xx significant risk transf
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FCA 2013/xx risk transfer notificat
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FCA 2013/xx EU CRR) should be revie
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FCA 2013/xx being recognised or the
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FCA 2013/xx with traded debt instru
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FCA 2013/xx Duration of the credit
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FCA 2013/xx Track record and financ
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FCA 2013/xx Pledge of assets, takin
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FCA 2013/xx complete and stabilised
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FCA 2013/xx properties are diversif
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FCA 2013/xx assets are highly liqui
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FCA 2013/xx market asset when it co
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FCA 2013/xx Financial strength of t
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FCA 2013/xx (f) (g) The effect of t
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FCA 2013/xx (2) contains the rule t
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FCA 2013/xx 6.1.8 G The pricing mod
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FCA 2013/xx 6.2.3 G Futures, forwar
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FCA 2013/xx 6.2.11 G This table bel
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FCA 2013/xx (b) (c) equal to a frac
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FCA 2013/xx demonstrate this by hav
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FCA 2013/xx shifts for both VaR and
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FCA 2013/xx individual basis if it
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FCA 2013/xx material practical or l
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FCA 2013/xx the financial situation
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FCA 2013/xx consolidated situation
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FCA 2013/xx applications against ar
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FCA 2013/xx Calculation of counterc
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FCA 2013/xx connection with common
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FCA 2013/xx “Qn” indicates the
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FCA 2013/xx [9.7 Exemptions 9.7.1 G
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FCA 2013/xx Permission 1 Internal R
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FCA 2013/xx consolidated basis for
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FCA 2013/xx 15 Own funds requiremen
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FCA 2013/xx 3.4 R For the purposes
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FCA 2013/xx (4) 40% for the period
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FCA 2013/xx (3) 0.6 during the peri
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FCA 2013/xx IFPRU 9.3 (Countercycli
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FCA 2013/xx 3.2.6R enter into a con
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FCA 2013/xx group members in excess
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FCA 2013/xx FCA to grant a waiver t
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FCA 2013/xx consolidated basis cons
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FCA 2013/xx that is not excluded un
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FCA 2013/xx third country countercy
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FCA 2013/xx purpose of BIPRU 10 (La
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FCA 2013/xx (ii) any private or pub
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FCA 2013/xx EEA prudential sectoral
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FCA 2013/xx financial instrument (1
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FCA 2013/xx (2) (in accordance with
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FCA 2013/xx basis under Article 73(
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FCA 2013/xx (3) (in BIPRU 12 (Liqui
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FCA 2013/xx 2.3 (Supervisory review
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FCA 2013/xx Annex C Amendments to t
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FCA 2013/xx CAPITAL REQUIREMENTS DI
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FCA 2013/xx (b) has a branch in the
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FCA 2013/xx 1.3 Valuation … … P
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FCA 2013/xx … Calculation of the
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FCA 2013/xx The table in GENPRU 2.1
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FCA 2013/xx ... … 2.2.220R; GENPR
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FCA 2013/xx … Limits on the use o
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FCA 2013/xx Core tier one capital:
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FCA 2013/xx 6R consolidated supervi
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FCA 2013/xx 8.13 R … … IPRU(BSO
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FCA 2013/xx 8B.3 R The Royal Bank o
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FCA 2013/xx GENPRU 2.2.174R GENPRU
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FCA 2013/xx 1.1.5 G Guidance on the
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FCA 2013/xx … (da) (e) (f) apply
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FCA 2013/xx purpose of the 5% test
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FCA 2013/xx as it applies to the IR
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FCA 2013/xx applicable, the Banking
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FCA 2013/xx … 8.3.14 G The financ
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FCA 2013/xx GENPRU 2 Annex 6R requi
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FCA 2013/xx … 8.6 Consolidated ca
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FCA 2013/xx [deleted] 8.7.4 G BIPRU
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FCA 2013/xx apply differently for d
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Page 367 and 368: FCA 2013/XX 19A.3.12 A 19A.3.12 B
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Page 393 and 394: PART A: INTRODUCTION & INTERPRETATI
Page 395 and 396: Table 1: Glossary of terms defined
Page 397 and 398: PART C: LEVELS PROCESS FOR DIVIDING
Page 399 and 400: solo Remuneration Code firm. (2) Wh
Page 401 and 402: Disapplication of certain remunerat
Page 403 and 404: (5) Sub-paragraph (6) applies where
Page 405 and 406: APPENDIX 1: SUPPLEMENTAL GUIDANCE O
Page 408 and 409: This document has no legal effect a
Page 432 and 433: GENERAL GUIDANCE ON PROPORTIONALITY
Page 434 and 435: PART A: INTRODUCTION & INTERPRETATI
Page 436 and 437: Table 1: Defined expression group G
Page 438 and 439: proportionality rule. Part-year Rem
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(d) The rule on guaranteed variable
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APPENDIX 1: PILLAR 3 DISCLOSURE REQ
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CP13/6 - CRD IV for Investment Firms - Financial Conduct Authority

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