Executive summary
Welcome to this edition of "Being better
informed", our monthly FS regulatory, accounting and audit
bulletin, which aims to keep you up to speed with significant
developments and their implications across all the financial
services sectors.
In May the pace of regulatory developments remained unabated.
The EBA launched a slew of draft RTS and ITS on various aspects of
CRD IV. In particular, the consultation on own funds will draw much interest as
the EBA seeks to harmonise the calculation of capital deductions
across the EU. In addition, the EBA's consultation on defining material risk takers greatly
expands the definition of banks' material risk takers subject
to the cap to include all employees whose total remuneration is
greater than €500,000. Asset managers should pay attention to
this - similar requirements may be on the cards under UCITS V as
politicians look to clamp-down on what they constitute as excessive
pay across the wider financial
