City & Financial Global is pleased to announce that its highly regarded annual City Remuneration Summit will be taking place on 1 May.

There have been some very significant developments since last year’s Summit. The most recent of these is the joint FCA/PRA Consultation on Remuneration Reform which closes on 13 March. The CP is consistent with the Government’s stance on there being no reward without risk. The key issues to be addressed (and probably welcomed) are structural simplification; faster vesting; clarifying the meaning of material risk taker; and increased accountability for senior managers.

A key feature of last year’s Summit was the regulatory response to non-financial misconduct, and how this should be addressed from a remuneration perspective. Since last year this has acquired even more significance and will be an important part of regulated firms’ remuneration strategies.

The Summit is also an opportunity to address the impact of the Investment Association’s revised Principles of Remuneration which were published last year. ESG issues are still high on the remuneration agenda, not just from a climate change and environmental perspective but from the “S” and “G” perspective with diversity, inclusion and equity still important as a remuneration issue, notwithstanding the backlash from the US.

Other issues to be addressed include inter-generational attitudes to remuneration and reward, and the role of responsibilities of the Remuneration Committee.