Tuesday, 19 April 2016

* Remuneration policies and recent USA and EU documents

In USA the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Federal Housing Finance Agency on Tuesday became the latest U.S. financial regulators to put forward proposals that would limit incentive compensation for senior bank executives, traders and other employees. Part of a six-agency rule first unveiled last week in a bid to restrict excessive risk-taking that many say helped contribute to the 2008 financial crisis, Tuesday's proposal by the FDIC and OCC likewise enacts Section 956 of the 2010 Dodd-Frank Act

Meanwhile, ESMA guidelines on  remuneration policies (UCITS / AIFMD) ...Article 14a(4) of Directive 2009/65/EC (“UCITS Directive”), as amended by Directive 2014/91/EU (“UCITS V Directive”) provides that ESMA shall issue guidelines addressed to competent authorities or financial market participants concerning the application of the remuneration principles set out under Article 14b of the UCITS Directive (“UCITS Remuneration Guidelines”)....See  ESMA Guidelines on sound remuneration policies under the UCITS Directiveand AIFMD. 31.03.2016