Press Release: Financial services sector pay: Commission sets out principles on remuneration of risk-taking staff in financial institutions

The European Commission adopted a Recommendation on remuneration in the financial services sector. It recommends that Member States should ensure that financial institutions have remuneration policies for risk-taking staff that are consistent with and promote sound and effective risk-management. The Recommendation sets out guidelines on the structure of pay, on the process of design and implementation of remuneration policies and on the role of supervisory authorities in the review of remuneration policies of financial institutions. The Commission has also adopted a Recommendation on directors' pay.

European Commission: MEMO/09/212: Recommendation on remuneration in financial services sector: Frequently Asked Questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/09/212&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: MEMO/09/211: Directive on Alternative Investment Fund Managers (AIFMs) : Frequently Asked Questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/09/211&format=HTML&aged=0&language=EN&guiLanguage=en

EurActiv, 1.7.09: EU delays financial overhaul over bankers' pay http://www.euractiv.com/en/financial-services/eu-delays-financial-overhaul-bankers-pay/article-183636

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