Directive 2006/48/EC of the European Parliament and of the Council (repealed)Dangos y teitl llawn

[F1 15. The following information, including regular, at least annual, updates, shall be disclosed to the public regarding the remuneration policy and practices of the credit institution for those categories of staff whose professional activities have a material impact on its risk profile: U.K.

(a)

information concerning the decision-making process used for determining the remuneration policy, including if applicable, information about the composition and the mandate of a remuneration committee, the external consultant whose services have been used for the determination of the remuneration policy and the role of the relevant stakeholders;

(b)

information on link between pay and performance;

(c)

the most important design characteristics of the remuneration system, including information on the criteria used for performance measurement and risk adjustment, deferral policy and vesting criteria;

(d)

information on the performance criteria on which the entitlement to shares, options or variable components of remuneration is based;

(e)

the main parameters and rationale for any variable component scheme and any other non-cash benefits;

(f)

aggregate quantitative information on remuneration, broken down by business area;

(g)

aggregate quantitative information on remuneration, broken down by senior management and members of staff whose actions have a material impact on the risk profile of the credit institution, indicating the following:

(i)

the amounts of remuneration for the financial year, split into fixed and variable remuneration, and the number of beneficiaries;

(ii)

the amounts and forms of variable remuneration, split into cash, shares, share-linked instruments and other types;

(iii)

the amounts of outstanding deferred remuneration, split into vested and unvested portions;

(iv)

the amounts of deferred remuneration awarded during the financial year, paid out and reduced through performance adjustments;

(v)

new sign-on and severance payments made during the financial year, and the number of beneficiaries of such payments; and

(vi)

the amounts of severance payments awarded during the financial year, number of beneficiaries and highest such award to a single person.

For credit institutions that are significant in terms of their size, internal organisation and the nature, scope and the complexity of their activities, the quantitative information referred to in this point shall also be made available to the public at the level of persons who effectively direct the business of the credit institution within the meaning of Article 11(1).

Credit institutions shall comply with the requirements set out in this point in a manner that is appropriate to their size, internal organisation and the nature, scope and complexity of their activities and without prejudice to Directive 95/46/EC.]

Textual Amendments

F1 Inserted by Directive 2010/76/EU of the European Parliament and of the Council of 24 November 2010 amending Directives 2006/48/EC and 2006/49/EC as regards capital requirements for the trading book and for re-securitisations, and the supervisory review of remuneration policies (Text with EEA relevance).