Failure to comply with remuneration reporting requirements
The IPA may investigate such matters as a Complaint (if a complaint is lodged) or, where the concerns are warranted, as a Concern stemming from "industry intelligence". Further information regarding the IPA's member discipline processes .
The IPA has recently finalised the investigation of a concern in relation to non-compliance issues identified with a firm's remuneration reporting. The investigation indicated that the errors stemmed from a failure to appropriately maintain precedent documents to reflect the requirements of the Code.
A comprehensive internal review of the firm's internal administrative processes was commenced and the members involved also attended the IPA's Remuneration Seminar (as recommended by the IPA). Appropriate steps were also put in place to address the specific remuneration compliance issues identified on the administration.