Regulatory Alerts2023-11-14
Directive on Compensation Framework
The National Bank of Romania issued this directive to establish a comprehensive compensation framework for board members, senior management, and material risk takers. It mandates structured remuneration policies that align fixed and variable pay with institutional risk profiles, enforce mandatory deferral periods, and integrate clawback mechanisms. Financial institutions must implement proportionate qualitative and quantitative disclosure requirements, utilizing standardized reporting templates to track deferred awards, special payments, and ex post adjustments.
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