Regulatory Alerts2009-12-21
Added · Updated
Circular 22/2009 (BA) - Supervisory Requirements for Remuneration Systems of Institutions
The German Federal Financial Supervisory Authority (BaFin) issued Circular 22/2009 to establish supervisory requirements for the remuneration systems of financial institutions. The document mandates that remuneration structures must align with strategic goals, avoid excessive risk-taking incentives, and ensure appropriate oversight through dedicated committees and annual reporting. It imposes specific obligations on institutions to identify risk-takers, cap guaranteed bonuses, defer variable pay, and publicly disclose remuneration details to enhance transparency and accountability.
More like this from Bundesbank
We email you every new Bundesbank publication the day it's published.
Topics
Share