The aim of the firms remuneration policy is to ensure that it is risk-focused and is consistent with and promotes effective risk management, thereby not exposing the company, management, employees nor clients to excessive risk.
The company applies the principles relating to risk management and risk tolerance as set out in the SYSC 19C : BIPRU Remuneration Section 19C.2 : General requirement Code.
In general terms, the remuneration of the firm’s management and employees comprises base salary and a fixed percentage contribution to the individuals personal pension. Any performance related pay (if and when any such would arise) is not guaranteed. In the event that any performance related pay did arise, it would be discretionary, variable and based on a combination of the assessment of the performance of: (a) the individual; (b) the business unit concerned; and (c) the overall results of the firm and the group; and (2) when assessing individual performance, financial as well as non-financial criteria are taken into account.
The remuneration policy of the company is consistent with that of the parent company and the group.