The European proposals for next year’s bonus round - .PDF file.
The European Banking Authority (EBA) has approved the draft regulatory technical standard (RTS) on the definition of material risk takers (MRTs), which will apply to all firms under the scope of the CRD IV. The RTS includes a requirement that all employees whose total remuneration is greater than €500,000 (£416,000) should be deemed to be MRTs. If it is approved, the RTS will come into effect during 2014, ahead of the 2014–15 remuneration round.
Whether or not an employee’s professional activities have a material impact, a firm’s risk profile is one of the key criteria in determining whether an employee is ‘code staff’. The EBA states that as a general principle staff will be identified as having a ‘material impact’ on the institution’s risk profile if they meet one or more of the following criteria…
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