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Overview of EU Legislation: CRD IV Implementation and Key Regulatory Changes

This document outlines the essential aspects of the EU's CRD IV legislation coming into effect on January 1, 2014. Key points include the introduction of a cap on bonuses for employees beyond board members, mandatory employee representation within remuneration committees, and whistleblower protection requirements. It emphasizes binding technical standards from the EBA, the obligation for independent and confidential channels for reporting, and the need for compliance with various directives. This legislation aims to enhance transparency, accountability, and equity in remuneration practices within financial institutions.

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Overview of EU Legislation: CRD IV Implementation and Key Regulatory Changes

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Presentation Transcript

  1. What’s on in the EU EU-legislation and the pipeline

  2. CRD IV • Into force on 1 January 2014 • Cap on bonus to risk takers other than boardmembers and directors • Employee representation in remuneration committee • Whistleblower requirements

  3. Cap on bonus • Boardmembers, directors and othermaterialrisktakers • 100% - or 200% ifdecided by highestauthority • Binding technical standards from EBA • Not final before 1 january 2014!

  4. Employeerepresentationin remunerationcommittee • If employeesarerepresented at boardlevel • Obligatoryrepresentation in remunerationcommittee

  5. Whistleblower requirements • 2 channels • Authority + Company level • Independent and confidential • Whistleblower protection • Whistleblower channel by collective agreement • Why?

  6. The pipelinerelated to sector • EBA guidelines (regulatorytechnical standards) • Remuneration • Instruments • Housingcreditdirective • remunerationagain

  7. The pipelinein general • Data protection • Non-discrimination • Directive on enforcement of posting and services directive

  8. European Parliament • Last minutecreativity – or sneaking by? • CRD IV and representation in remunerationcommittee • Cercas-report

  9. Commission • Drive to end long standingpendingproposals?

  10. ECJ • Increase in cases on age discrimination • New definition of ”handicap”

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