Join Carol Davis QC on 23rd June 2022 as she explores malus and clawback provisions in incentive plans, introduced for financial institutions, largely in response to the financial crisis of 2008. This seminar is hosted by MBL Seminars.
There was a widespread belief that inappropriate remuneration practices contributed to the crisis by encouraging excessive risk-taking.
The FCA and PRA Handbooks provide that malus and clawback provisions must be incorporated in the remuneration policies of senior managers and other senior individuals so that the variable remuneration is only paid if it is sustainable according to the financial situation of the firm as a whole and justified on the basis of the firm, the business unit and the individual concerned.
The session is aimed at in-house counsel and employment lawyers advising financial institutions.
