(1) The BIPRU Remuneration Code applies to a BIPRU firm and a third country BIPRU firm.(2) In relation to a third country BIPRU firm, the BIPRU Remuneration Code applies only in relation to activities carried on from an establishment in the United Kingdom.
15In setting the method of determining the remuneration of employees involved in the risk management function, BIPRU firms will also need to comply with the BIPRU Remuneration Code.