Ash Saluja

Dec 13, 2023 | lexology.com | Tom Callaby |Ash Saluja

On 6 December 2023, the finalised texts of the EU banking package known as CRD61and CRR32 were published following the conclusion of negotiations between the EU co-legislators. In this article, we set out an overview of the latest developments and the next steps. We also explain the final compromise position on Article 21c of CRD6, which introduces a requirement for third country undertakings to establish a branch in the EU in order to provide core banking services, subject to certain exemptions.

Nov 24, 2023 | peoplemanagement.co.uk | Mark Walker |Ash Saluja

The decision by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to remove the bankers’ bonus cap means that firms will now be able to pay bonuses exceeding 100 per cent of fixed pay (or 200 per cent with shareholder approval). The changes affect banks, building societies and PRA-designated investment firms that are subject to the Remuneration Part of the PRA Rulebook and the Dual-regulated firms Remuneration Code in the FCA Handbook.

Mar 11, 2023 | cms.law | Mark Walker |Ash Saluja |Steven Cochrane

03/11/2023Following receipt of responses to their joint consultation paper issued last December (PRA CP15/22 and FCA CP22/28), the PRA and the FCA have now published a policy statement (PS9/23) confirming that the bankers’ bonus cap will be removed. This means that firms... Read more