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ESMA guidelines on remuneration practices under UCITS and AIFMD

01/01/2017

On 14 October 16 ESMA published two sets of Guidelines on sound remuneration under UCITS and AIFMD. The UCITS Remuneration Guidelines provide clarity on the requirements under the UCITS Directive for management companies when establishing and applying a remuneration policy for key staff.

On 14 October 16 ESMA published two sets of Guidelines on sound remuneration under UCITS and AIFMD. The UCITS Remuneration Guidelines provide clarity on the requirements under the UCITS Directive for management companies when establishing and applying a remuneration policy for key staff.  The AIFMD Remuneration Guidelines amend the current Guidelines on sound remuneration policies under the AIFMD. The amendment relates to the section of these Guidelines dealing with the application of the remuneration rules in a group context and is intended to acknowledge the potential outreach of the Capital Requirements Directive rules in a banking group. National Competent Authorities (NCAs) must notify ESMA whether they comply or intend to comply with the Guidelines, with reasons for non-compliance, within two months. The Guidelines apply from 1 January 2017

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