Regulatory Alerts2022-11-03
FMA Circular 06/2022 on Principles of Remuneration Policies and Practices
The Austrian Financial Market Authority issued Circular 06/2022 to guide management companies and alternative investment fund managers in designing remuneration policies that align with sound risk management. The document clarifies the scope of application, distinguishing between fixed and variable pay, and mandates that supervisory boards approve policies while ensuring strict adherence to the principle of proportionality. It further details specific requirements for identified staff, including deferral periods, ex-post risk adjustments, and a ban on circumventing legal provisions through contractual structures.
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