Malus, clawback or reduction notices will be applied to ten individuals who were in role when the failures occurred but have since left NatWest.
February 18, 2024The inclusion of climate-related metrics in compensation frameworks is at an "early, evolutionary stage" and is focused on executive and senior management.
April 24, 2023The reforms include expanding the use of malus and clawback of deferred pay and requiring disclosures of the amounts paid to individual executives.
April 24, 2023Removing the cap will increase the proportion of compensation that can be set by tools such as deferral, payments in instruments, and risk adjustment.
December 27, 2022NBFCs should constitute remuneration committees and use malus or clawback arrangements to account for possible misconduct or poor financial performance.
May 8, 2022The use of balanced scorecards based on KPIs in determining compensation is "critical" to promoting a sound risk culture in a firm, the FSB says.
November 5, 2021The guidance has been updated to align with the Financial Accountability Regime and provide additional examples of better practices to help entities transition smoothly.
October 21, 2021The prudential standard on remuneration will come into effect from 1 January 2023 initially for the largest and most complex ADIs.
August 30, 2021Directors are required to treat shareholders fairly and guarantee their rights, demonstrate high standards of professional ethics, and protect the rights and interests of stakeholders.
June 12, 2021Securities and fund management firms are expected to establish and improve internal accountability mechanisms for senior managers, and penalise violations with clawback and malus.
November 25, 2020