The Capital Requirements Regulations 2013

Employee remunerationU.K.

This section has no associated Explanatory Memorandum

36.—[F1(1)]  The [F2PRA] must—

(a)collect the information disclosed by institutions in accordance with the criteria for disclosure set out at points (g), (h) and (i) of Article 450(1) of the capital requirements regulation and use it to benchmark remuneration trends and practices;

[F3(b)collect information on the number of employees in each institution that are remunerated 1 million euros or more per financial year, in pay brackets of 1 million euros, including their job responsibilities, the business area involved and the main elements of salary, bonus, long-term award and pension contribution;]

(c)collect the information disclosed by institutions about any decisions taken by their shareholders, owners or members to approve a higher ratio between the fixed and variable components of remuneration approved in accordance with [F4applicable remuneration rules] and use it to benchmark practices in relation to the level of such ratios; F5...

F5(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F6(2) In paragraph (1)(c) “applicable remuneration rules” [F7means rule 15.10 of the Remuneration Part of the PRA Rulebook]]

Textual Amendments