The Committee of European Banking Supervisors ("CEBS") has published its consultation paper setting out guidelines on the implementation of the remuneration provisions contained in the amended Capital Requirements Directive ("CRDIII"). The consultation paper, 'Guidelines on Remuneration Policies and Practices' (the "Guidance"), is subject to consultation until 8 November 2010.
This briefing considers certain key aspects of the Guidance including issues discussed at the public consultation meeting held by CEBS on 29 October 2010. Final form Guidance is due to be issued on or around 10/11 December 2010. Although not binding on national supervisors, the Guidance is likely to influence the FSA in its implementation of the UK rules, which are now not due to be published until some time in December 2010. This briefing includes in its appendix a summary of the position in certain other key European jurisdictions.
To read the full briefing, please click here.
Key contacts
Steve Bell
Managing Partner - Employment, Industrial Relations and Safety (Australia, Asia), Melbourne
Emma Rohsler
Regional Head of Practice (EMEA) - Employment Pensions and Incentives, Paris
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