MIFIDPRU 8 Remuneration Disclosures
TORCH PARTNERS CORPORATE FINANCE LIMITED
Registration No: 04039591
FCA Registration No: 195597
The FCA, through MIFIDPRU 8.6 requires Small Non-Interconnected firms to disclose information on their remuneration policies and pay outs on an annual basis. The Board is of the opinion that Torch Partners Corporate Finance Limited (“the Company”) follows remuneration policies and procedures that are consistent with the requirement of the Remuneration Code (‘Code’) and which do not promote or encourage undue risk taking.
The Code covers an individual's total remuneration, fixed and variable. The Company incentivises staff through a combination of the two. The Company's policy is designed to ensure that it complies with the Code and that its compensation arrangements:
- are consistent with and promote sound and effective risk management;
- do not encourage excessive risk taking;
- include measures to avoid conflicts of interest; and
- are in line with the Company's business strategy, objectives, values and long-term interests.
The Company does not have a formal remuneration committee as it is not required to establish one under the proportionality principles of the Code.
Remuneration policy is controlled by the Board and is designed to attract, retain, and motivate the employees needed to run the business of the Company in a way which is consistent with the risk. Remuneration is considered to be in line with the market rates of pay and there is not a bonus culture which may encourage individuals to take higher risks due to strong links between pay and performance. Any bonuses awarded are considered to be prudent and do not in any way limit the Company's ability to strengthen its capital base.
Quantitative remuneration disclosure
The below table quantifies the remuneration paid to staff in the financial year 1 January 2022 to 31 December 2022. For these purposes, ‘staff’ is defined broadly, and includes, for example, employees of the Firm itself and employees of other entities in the group: