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Cur8 Capital is the trading name of IFG. VC Limited, which is authorised and regulated by the FCA [No. 943736].
This disclosure relates to IFG.VC Ltd (the ‘Firm’), which is classified as a small and noninterconnected (SNI) MIFIDPRU Investment Firm and is therefore required under MIFIDPRU 8.6 to disclose information relating to remuneration policies and practices.
In accordance with the rules, the disclosures herein are appropriate to the size, internal organisation, nature, scope, and complexity of the Firm’s activities.
Base salaries provide pre-determined, non-revocable compensation paid to individuals throughout the year, irrespective of Firm or individual performance. Base salaries and benefits constitute the significant proportion of the total remuneration of employees. This fixed element is based on the individual’s professional experience and professional responsibilities. Individuals within the Firm are all directly employed through the Firm’s parent company, IslamicFinanceGuru Limited, and it is the parent company that is responsible for remuneration.
To not incentivise unacceptable risk taking, fixed remuneration comprises most staff compensation. Neither the Firm nor the parent company run a discretionary bonus scheme. Salaries are reviewed on an annual basis at a minimum to ensure that they adequately reflect the individual’s professional responsibilities and sustained performance.
The Firm is required to implement and maintain remuneration policies, procedures and practices for all directors and employees that are consistent with and promote sound effective risk management. These are a fundamental consideration of the parent company in its approach to compensation for individuals whose responsibilities and activities lie within the remit of the Firm.
Th Firm’s policy is intended to cover all aspects of remuneration and has been created in accordance with the MIFIDPRU Remuneration Code (SYSC 19G).
The remuneration practices and policies are intended to:
The remuneration practices and policies are intended to support the Firm’s business strategy, long term interests and values, and to ensure that risk taking does not exceed the Firm’s tolerated level of risk.
Periodic benchmarking ensures that remuneration at individual level is not unreasonable or disproportionate to the amount, nature, quality, and scope of the work performed.
The remuneration policy outlines the criteria used to assess the performance of the Firm and of individual staff members. The Firm’s performance is assessed against its overall financial performance, as well as other measures such as new business gained, new products developed, AUM, client satisfaction and employee retention rates.
In assessing the performance of individual staff members, the Firm takes into account financial and non-financial criteria. Non-financial criteria includes:
All components of remuneration are categorised as either fixed or variable.
Fixed Variable – Salary
Below are remuneration awarded to all staff (“staff” has been interpreted broadly in line with SYSC 19G.1.24G)