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New European laws controlling structure of remuneration in finance sector (News, 1 May 2013)

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Published on: 01 May 2013

Published by a LexisNexis Employment expert

Table of contents

The impact of this European legislation
Background
The new rules: remuneration policies and disclosure

Article summary

A new Capital Requirements Regulation and a new edition of the Capital Requirements Directive have been approved by the European Parliament. This legislation will (amongst other things) create certain information disclosure obligations and require credit institutions and investment firms to limit the bonus element of remuneration for certain categories of staff to 100% of salary, unless its shareholders approve an increased bonus element of up to 200% of salary. The new law is intended to take effect in Member States from 1 January 2014.

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