Related provisions for SYSC 19A.3.45

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SYSC 19A.3.12RRP
(1) A firm that is significant in terms of its size, internal organisation and the nature, the scope and the complexity of its activities must establish a remuneration committee. (2) The remuneration committee must be constituted in a way that enables it to exercise competent and independent judgment on remuneration policies and practices and the incentives created for managing risk, capital and liquidity.(3) The chairman and the members of the remuneration committee must be
SYSC 19A.3.14RRP
A firm must ensure that employees engaged in control functions:(1) are independent from the business units they oversee;(2) have appropriate authority; and (3) are remunerated:(a) adequately to attract qualified and experienced staff; and(b) in accordance with the achievement of the objectives linked to their functions, independent of the performance of the business areas they control.[Note:Paragraph 23(e) of Annex V to the Banking Consolidation Directive and Standard 2 of the
SYSC 19A.3.18RRP
A firm must ensure that total variable remuneration does not limit the firm's ability to strengthen its capital base.[Note:Paragraph 23(i) of Annex V to the Banking Consolidation Directive and Standard 3 of the FSB Compensation Standards]
SYSC 19A.3.20RRP
A firm that benefits from exceptional government intervention must ensure that:(1) variable remuneration is strictly limited as a percentage of net revenues when it is inconsistent with the maintenance of a sound capital base and timely exit from government support;(2) it restructures remuneration in a manner aligned with sound risk management and long-term growth, including when appropriate establishing limits to the remuneration ofsenior personnel; and(3) no variable remuneration
SYSC 19A.3.22RRP
(1) A firm must ensure that any measurement of performance used to calculate variable remuneration components or pools of variable remuneration components:(a) includes adjustments for all types of current and future risks and takes into account the cost and quantity of the capital and the liquidity required; and(b) takes into account the need for consistency with the timing and likelihood of the firm receiving potential future revenues incorporated into current earnings.(2) A
SYSC 19A.3.40RRP
A firm must not award, pay or provide guaranteed variable remuneration unless it:(1) is exceptional;(2) occurs in the context of hiring new Remuneration Code staff; and(3) is limited to the first year of service.[Note:Paragraph 23(j) of Annex V to the Banking Consolidation Directive and Standard 11 of the FSB Compensation Standards]
SYSC 19A.3.47RRP
(1) A firm must ensure that a substantial portion, which is at least 50%, of any variable remuneration consists of an appropriate balance of:(a) shares or equivalent ownership interests, subject to the legal structure of the firm concerned, or share-linked instruments or equivalent non-cash instruments in the case of a non-listed firm; and(b) where appropriate, capital instruments which are eligible for inclusion at stage B1 of the calculation in the capital resources table, where