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SYSC TP 9 Updates to reflect CRD V

1

Material to which the transitional provision applies

R/G

Transitional Provision

Transitional Provision: dates in force

Handbook Provision: coming into force

1

SYSC 19D.3

A firm subject to SYSC 19D.1.3 on 28 December 2020, must apply the rules and guidance in SYSC 19D.3 as it stood on the 28 December 2020 in relation to:

(a) remuneration awarded, whether pursuant to a contract or otherwise, in relation to the performance year active on the 28 December 2020;

(b) remuneration due on the basis of contracts concluded before 29 December 2020 which is awarded or paid in relation to the performance year active on the 28 December 2020; and

(c) remuneration awarded, but not yet paid, before 29 December 2020, for services provided in the performance year active on the 28 December 2020.

From 29 December 2020

29 December 2020