Regulatory Alerts2023-08-15
Ordinance No. 48 of 20.03.2013 on the requirements to the remuneration
The Financial Supervision Commission issued this ordinance to establish remuneration principles for insurers, reinsurers, management undertakings, and public entities. It mandates that these organizations adopt policies ensuring fixed remuneration constitutes a significant portion of total pay to prevent excessive risk-taking. The regulation further requires deferral of variable compensation, clawback provisions for misleading performance data, and transparent disclosure of pay structures to shareholders and the public.
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