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5th January 2016
EBA issues finalised Remuneration Policies Guidelines
Just before Christmas, the European Banking Authority (EBA) published their final guidelines on sound remuneration policies.
The EBA’s implementation date has now been revised to the 1st January 2017 and the rules will first apply to the 2017 performance year.
As such, firms will no longer need to change their existing pay practices for the 2016 performance year.
Since the consultation version of the Guidelines was issued, key changes include:
The next step for this proposed regulation is that the FCA, in conjunction with the PRA and HM Treasury, will review the proposed changes to the Guidelines and their application to the market in the United Kingdom, and will then enter into consultation on any necessary changes to the UK domestic rules and guidance.
Final Remuneration Guidelines issued by EBA
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