To ask Her Majesty’s Government whether they are measuring compensation levels in the investment management industry and any changes due to auto-enrolment.

Compensation levels in the investment management industry are already governed by the Remuneration Code (“the Code”) which is part of the FCA Handbook. Investment firms must ensure that their remuneration policies do not encourage staff to sell inappropriate products or give rise to a conflict of interest. Firms are also required to ensure that remuneration is structured through an appropriate and suitable balance between fixed and variable compensation where the variable part is subject to forfeiture if losses or misconduct come to light after the award has been made. Firms managing funds that accept payments from auto-enrolment schemes must adhere to the Code.