EU committee consults the industry on principles for banker bonus policies
LONDON - A new consultation paper from the Committee of European Banking Supervisors (Cebs) proposes guidelines for the reform of banking industry remuneration policies to better align risks with employee compensation.
The Cebs paper contains principles to better align individuals' compensation packages to the risks they run for the firm in general by establishing shared objectives, increased transparency for internal and external stakeholders, improved governance for decision-making and oversight, greater performance management and evaluation of the form compensation takes.
Cebs says its remuneration principles will be added to its internal governance guidelines released on January 25, 2006 as part of the application of the supervisory review process. CP23 is available for industry comment until April 3, 2009 and is available for download here.
More on Operational Risk
Third-party suppliers can expose banks to unsuspected new political threats
Grid reliability and cybersecurity rules generate interest
Relational databases are hard to protect; modular storage allows encryption
Paul Robson to face sentencing for Libor manipulation in 2017
Sign up for Risk.net email alerts
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
In the February 2014 editorial video, OpRisk's latest industry survey finds room for improvement in risk management
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.