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ARTICLE · 11 OCTOBER 2010

Publication of CEBS Draft Guidelines on Remuneration

The Committee of European Banking Supervisors (CEBS) has today published a consultation paper including draft guidelines on remuneration.

United KingdomFinance and Banking
Nicholas Stretch
Nicholas Stretch
Anthony Fincham
Anthony Fincham
Ash Saluja
Ash Saluja

The Committee of European Banking Supervisors (CEBS) has today published a consultation paper including draft guidelines on remuneration. This is part of the implementation of the CRD3 provisions on remuneration. The draft guidelines will no doubt impact on the final draft of the extended FSA Remuneration Code in the UK, which is due to be published in final form towards the end of November before taking effect from 1 January 2011.

The consultation paper and draft guidelines, which can be accessed by clicking here, are extremely general and overall contain little of surprise as much of CEBS' reasoning and guidance already features in the FSA's draft Remuneration Code and no doubt the FSA's own consultation paper heavily influences CEBS' own paper.

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