The Financial Conduct Authority is planning to scrap bonuses for its roughly 4,200 workers as it fires the starting gun on a radical pay restructure.
In a consultation document sent to staff outlining proposed changes to pay and benefits, dated 21 September and seen by Financial News, the regulator slams its existing structure, under which all FCA staff have been entitled to a one-off bonus every year, right up to the highest ranks, without having to illustrate exceptional performance.
