Regulatory Alerts2022-01-31
Added · Updated
CSSF Circular 22/797: Application of EBA Guidelines on Sound Remuneration Policies and Repeal of Previous Circulars
The CSSF integrates the European Banking Authority Guidelines on sound remuneration policies (EBA/GL/2021/04) into its administrative practice and regulatory approach. All credit institutions and CRR investment firms must comply with these guidelines, which update previous requirements to address changes introduced by Directive 2019/878/EU and clarify rules on severance pay, retention bonuses, and gender neutrality. Circulars CSSF 17/658 and 11/505 are repealed effective from the date of publication of this circular.
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