UK - The Financial Services Authority is concerned "inappropriate remuneration schemes" may have contributed to the current banking crisis.
It said this would be to the detriment of shareholders and other stakeholders.
FSA chief executive Hector Sants said: "It would appear that in many cases, the remuneration structure of firms may have been inconsistent with sound risk management."
Sants said the regulator did not want to become involved in setting remuneration levels and said that was a matter for individual company boards - but said it was possible to set out some high level criteria against which remuneration policies could be assessed.
And he urged all firms to consider their policies carefully - especially in light of recent market developments.
Sants said: "If the policies are not aligned with sound risk management, that is unacceptable."
The FSA held a number of discussions with London-based firms during September and said it would arrange a further round of visits before the end of the year.
It said it would publish its general findings about remuneration structures in the London market, on a no-names basis, next year.
Sants said: "We believe that given the events of the past year, firms recognise the need to review their remuneration policies, take steps to change them if necessary. We believe that in working with the industry we can assist and encourage this process."
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