(1) Management companies shall establish and apply remuneration policies and practices that -
(a) are consistent with and promote sound and effective risk management,
(b) do not encourage risk taking that is inconsistent with the risk profiles, rules or instruments of incorporation of the UCITS that the management company manages, and
(c) do not impair compliance with the management company's duty to act in the best interest of the UCITS that it manages.
(2) The remuneration policies and practices referred to in paragraph (1) shall include fixed and variable components of salaries and discretionary pension benefits.
(3) The remuneration policies and practices referred to in paragraph (1) shall apply to those categories of staff (including senior management, risk takers, control functions and any employee receiving total remuneration that falls within the remuneration bracket of senior management and risk takers) whose professional activities have a material impact on the risk profiles
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