HTCMAUK Regulatory Disclosures

MIFIDPRU 8 Disclosure

TigerRisk Capital Markets & Advisory (UK) Limited

FYE 31 December 2022


TigerRisk Capital Markets & Advisory (UK) Limited (“HTCMAUK”, “the Firm”, “we”, “us” or “our’)  is authorised and regulated by the UK Financial Conduct Authority (the “FCA”) and falls within scope of the MIFIDPRU Remuneration Code (the “Code”) in the FCA Handbook at SYSC 19G. Chapter 8 of MIFIDPRU (“MIFIDPRU 8”) sets out public disclosure rules and guidance with which the Firm must comply. This disclosure has been prepared HTCMAUK in accordance with the requirements of MIFIDPRU 8. Unless otherwise stated, all figures are as at the Firm’s 31 December 2022 financial year end.

Remuneration approach and objectives

HTCMAUK has a pay for performance culture and flexible individual incentives are an important part of this culture. Employees are rewarded according to personal performance, their business division’s performance and overall success balanced against risk management and considerations of culture and conduct. Consideration of culture and conduct are included to reward high quality conduct which is consistent with HTCMAUK culture.

Management of our remuneration practices is a fundamental element of the culture and governance of HTCMAUK.  Remuneration is a key driver of behaviour and it is important for us to ensure that risk and reward are suitably aligned and that we do not encourage excessive or inappropriate risk taking or short-termism. The Firm’s remuneration policy focuses on ensuring remuneration awarded:

  • Is consistent with, and promotes, sound and effective risk management;
  • Is in line with the business strategy, objectives, values and interests of TCMA and includes measure to avoid conflicts of interest;
  • Promotes best practice in accordance with the Equality Act 2010.

Governance and decision-making procedures

The HTCMA Board is responsible for all remuneration matters across the Firm, with input from the leadership team of its US parent company. The Board in its supervisory function adopts and periodically reviews TCMA’s Remuneration Policy and has overall responsibility for overseeing its implementation. The Board will have regard to the long-term interests of the shareholders/parent company and other stakeholders when taking decisions on remuneration.

Components of remuneration

HTCMAUK staff may receive the following forms of remuneration

  • Fixed remuneration: base salary and benefits, such as pension plan, life and medical insurance and various additional voluntary benefits
  • Variable remuneration: cash bonus and Group share scheme participation

Quantitative remuneration disclosure

The total amount of remuneration awarded to all HTCMAUK staff for the 12 months ended 31 December 2022 was £2,241,899.  Of this, £1,159,712 was fixed remuneration and £1,082,187 was variable remuneration.