Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 21 September 2021 - onwards
Regulation 28 Investment firms that benefit from extraordinary public financial support
An investment firm that benefits from extraordinary public financial support, as defined in point (28) of Article 2(1) of Directive 2014/59/EU -
(a) shall not pay any variable remuneration to members of the management body, and
(b) shall limit variable remuneration to a portion of net revenue where payment to staff, other than members of the management body, would be inconsistent with -
(i) the maintenance of a sound capital base of an investment firm, and
(ii) the timely exit of the investment firm from extraordinary public financial support.