Commenting on the publication of today’s EBA guidelines on sound remuneration policies, Michael Lever, Head of Prudential Regulation at AFME, said:

“We note the publication today of the EBA’s final guidelines on sound remuneration policies and welcome the fact that the implementation of the guidelines will not take place until 1 January 2017, which will allow firms the necessary time to prepare. Additionally, we welcome the publication of the EBA's Opinion on the application of proportionality and its recommendation that legislative change should be considered in this area. We will work closely with the EBA and the European Commission in the coming months in light of the ongoing review of the CRD IV remuneration provisions to ensure that proportionality is an integral part of the rules going forward.”

– Ends –