Remuneration

The German Perspective on Remuneration Policies and Corporate Governance

The Global Financial Crisis brought the economy to the brink of a full-blown collapse and bankers’ greed was one of the key reasons for that. An example of how regulators and the industry try to set better rules for financial institutions. the Global Financial Crisis brought the economy to the brink of a full-blown collapse, …

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European Regulator observes a significant increase of high earners in EU banks

The European Banking Authority (EBA) published today its annual Report on high earners in EU banks, which shows a significant increase in their number in 2015 (+33.04% compared to 2014). The Report contains data covering all staff of institutions in the EU and EU branches of third country institutions receiving a total remuneration of one …

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EBA provides overview on the proportionate application of remuneration requirements

The European Banking Authority (EBA) published today additional information on the application of the proportionality principle to the remuneration provisions laid down in the Capital Requirements Directive in response to a request for advice from the European Commission. The additional information included in today’s Report is a follow-up to the Opinion on the application of …

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ESMA issues Guidelines on Remuneration Practices under UCITS and AIFMD

The European Securities and Markets Authority (ESMA) has published today two sets of Guidelines: Guidelines on Sound Remuneration under UCITS (UCITS Remuneration Guidelines) and Guidelines on Sound Remuneration under the AIFMD (AIFMD Remuneration Guidelines). UCITS Remuneration Guidelines The UCITS Remuneration Guidelines provide clarity on the requirements under the UCITS Directive for management companies when establishing …

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EBA publishes final guidelines on the remuneration of sales staff

The European Banking Authority (EBA) published today its final Guidelines on remuneration policies and practices related to the provision and sale of retail banking products and services. The EBA had previously identified poor remuneration policies and practices as a key driver of miss-selling of financial products and services. The Guidelines aim, therefore, to protect consumers …

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FSB reports on Compensation Tools to Address Misconduct in Banks

The Financial Stability Board (FSB) hosted a round table on compensation practices to share experiences and lessons on the use of compensation tools to address misconduct in banks on 10 May 2016 and published a respective summary today. The round table considered the processes for governing and applying compensation and related risk management tools to …

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ESMA publishes UCITS remuneration guidelines

The European Securities and Markets Authority (ESMA) has published its final Guidelines on sound remuneration policies under the UCITS Directive and AIFMD. ESMA has also written to the European Commission, European Council and European Parliament on the proportionality principle and remuneration rules in the financial sector. The UCITS Remuneration Guidelines provide clarity on the requirements …

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EBA reports on high earners and the effects of the bonus cap

The European Banking Authority (EBA) report on remuneration practices published today shows that the number of high earners in EU banks increased significantly in 2014, while the average ratio between the variable and fixed remuneration dropped significantly for high earners, as well as for all other identified staff. The report, which is part of the …

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Swiss regulator changes corporate governance requirements for banks

The Swiss Financial Market Supervisory Authority FINMA is consolidating its corporate governance, internal control system and risk management supervisory requirements for the banking sector. This consolidation will take the form of a single circular incorporating findings from the financial market crisis and revised international standards. The consultation on this revision runs until 13 April 2016. …

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