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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Version date: 25 December 2019 - onwards
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Article 32 Variable remuneration

1. Member States shall ensure that any variable remuneration awarded and paid by an investment firm to categories of staff referred to in Article 30(1) complies with all of the following requirements under the same conditions as those set out in Article 30(3):

(a) where variable remuneration is performance related, the total amount of variable remuneration is based on a combination of the assessment of the performance of the individual, of the business unit concerned and of the overall results of the investment firm;

(b) when assessing the performance of the individual, both financial and non-financial criteria are taken into account;

(c) the assessment of the performance referred to in point (a) is based on a multi-year period, taking into account the business cycle of the investment firm and its business risks;

(d) the variable remuneration does not affect the investment firm's ability to ensure a sound capital base;

(e) there is no guaranteed variable remuneration other than for new

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