Regulatory Alerts2023-04-03
Added · Updated
Guidelines on certain aspects of the MIFID II remuneration requirements
These guidelines apply to competent authorities and firms, including investment firms, credit institutions, UCITS management companies, and external AIFMs, requiring them to align remuneration policies with client interests under MiFID II. Firms must define clear qualitative and quantitative criteria for variable remuneration, avoid short-term incentives, and implement ex-post adjustment mechanisms such as malus and clawbacks to address misconduct. Competent authorities are required to notify ESMA of their compliance status within two months of publication, while the previous 2013 guidelines cease to apply six months after publication.
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