Remuneration Policy in Financial Institutions - Bill Introduced

On 9 November 2010 the Danish Minister for Economic and Business Affairs introduced a Bill on remuneration policies in financial institutions and financial holding companies. Among other things, the Bill will implement the new rules on remuneration laid down in the European Capital Requirements Directive, and will incorporate the European Commission's recommendation to introduce remuneration policies in the financial sector as well as the so-called Danish "Government Agreement" on, for example, restricted use of share options as a remuneration tool.

The Bill is intended to receive its first reading on 23 November 2010 and is expected to be approved at the planned third reading on 16 December 2010.