Two European committees scrutinise remuneration packages in the financial services sector
BRUSSELS - The executive pay policies and measures of the European Commission and European Union (EU) member states have come under scrutiny from a new paper issued by two European committees - the Economic Policy Committee (EPC) and the Economic and Financial Committee (EFC).
The publication reviews the steps taken since October's call from the European Council for accountability by those engaged in financial services. The Council stressed the need to correlate executive performance with remuneration - including severance packages.
EFC members were invited to provide a review on the state of EU remuneration policies, focusing on current and prospective legislation, industry and supervisory codes of conduct, in addition to specific measures taken by member states - for example Germany - to cap remuneration structures as part of recapitalisation packages for struggling banks.
Click here for the paper.
More on Operational Risk
Decision-making failures are being tackled in three very different ways
Criminals targeting one big hit rather than multiple smaller thefts
Operational risk loss data – September 2014
Basel Committee overhauls standardised approaches
Sign up for Risk.net email alerts
Sponsored webinar: IBM
Watch highlights of this year's London conference
Operational risk and the challenges of defining and dealing with conduct risk
Watch discussions and speakers from our North America conference
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.