UK regulator issues code to curb risks from pay

The Financial Services Authority (FSA), Britain's industry regulator, on Thursday outlined a reform agenda for financial sector pay aimed at curbing the excessive risk taking of recent years.

The regulator said that its draft Code of Practice on Remuneration Policies was relevant to all financial firms.

The regulator identified the aim of the code as being "to ensure that firms have remuneration policies which are consistent with sound risk management, and which do not expose them to excessiv

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