Decision (EU) 2015/2218 of the European Central Bank of 20 November 2015 on the procedure to exclude staff members from the presumption of having a material impact on a supervised credit institution's risk profile (ECB/2015/38) (c. 38)

Article 6 Supplementary documentation to substantiate applications for staff members awarded a total remuneration of EUR 1 000 000 or more

1. When applying for prior approval pursuant to Article 4(5) of Delegated Regulation (EU) No 604/2014 for a staff member who was awarded a total remuneration of EUR 1 000 000 or more in the preceding financial year, supervised credit institutions shall submit the following documentation to the ECB in order to substantiate the exceptional circumstances referred to in Article 4(5) of Delegated Regulation (EU) No 604/2014:

(a) a detailed description of the exceptional circumstances linked to the professional activity of the relevant staff member and their impact on the risk profile of the supervised credit institution. A highly competitive situation shall not be considered an exceptional circumstance;

(b) a detailed description of any exceptional circumstances linked to the remuneration of the relevant staff member that explains why the supervised credit institution awarded the staff member a remuneration of EUR 1 000 000 or more, even though the staff member reportedly does not have a material impact on the risk profile of the supervised credit institution.

2. The ECB may require the supervised credit institution to submit further information to substantiate the application.