Norgine Ventures Regulatory Disclosure
Scope of Disclosure
This disclosure relate only to Norgine Ventures Management Limited (NVML) (the Firm), which is the only regulated entity that is required to be assessed.
NVML is authorised and regulated by the FCA (FRN: 917803) and is classified as an MIFIDPRU SNI Firm.
Our Board is the governing body ultimately responsible for the risk management regime, as well as for ensuring that the governance and culture of the Firm starts with the Board members. The Board determines its business strategy and risk appetite and oversees the Risk and Compliance Committee (“RACC”). The NVML remuneration policies and awards are overseen by the Remuneration Committee, which is independent of the Board.
We follow the prescribed FCA guidelines under the MIFIDPRU Remuneration Code with regard to remuneration policies and disclosures relative to the size of the Firm. NVMLs remuneration policy is designed to incentivise individual and company performance; and also to reward behaviours which are consistent with Norgine Ventures overall Business Code and values. Our policy complies with FCA principles on remuneration policy and ensures that the Firm does not encourage excessive risk taking and that staff interests are aligned with those of our shareholders.
The remuneration policy and strategy is reviewed annually by the Remuneration Committee. We do not employ external remuneration advisers but oversight is assisted by a non-executive Director and Norgines Head of Reward (under an administration Transition Services Agreement).
We ensure that our remuneration structure promotes effective risk management and balances the fixed and variable remuneration components for all non-administrative staff. Total remuneration is based on balancing both financial and non-financial indicators together with the overall performance of NVML. Individual reward levels and payments are in all cases subject to Remuneration Committee review and approval.
We adhere to the principles of the MIFIDPRU Remuneration Code and ensure the required disclosures are made on our website. Further information about our compliance with the Remuneration Code is available on request.