Regulatory Alerts2022-01-31
CSSF Circular 22/797: Application of EBA Guidelines on Sound Remuneration Policies and Repeal of Previous Circulars
The Commission de Surveillance du Secteur Financier (CSSF) issued Circular 22/797 to implement the European Banking Authority’s 2021 Guidelines on sound remuneration policies under Directive 2013/36/EU. Financial institutions under CSSF supervision must align their remuneration frameworks with these updated standards to ensure consistency with sound and effective risk management practices. This circular simultaneously repeals and archives previous directives CSSF 17/658 and CSSF 11/505, consolidating the regulatory requirements for remuneration disclosures and proportionality assessments.
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