DNB and AFM Consult on Regulation on Sound Remuneration Policies
DNB and the Netherlands Authority for the Financial Markets (AFM) are consulting on Sound Remuneration Policy Regulation 2021 (Rbb 2021). This Regulation will replace the Sound Remuneration Policy Regulation 2017 (Rbb 2017). The changes in the Rbb 2021 compared to Rbb 2017 mainly relate to the implementation of the Investment Firms Directive. Comments on the consultation are requested until May 14, 2021. The final Rbb 2021 will enter into force at the time that “Article I, part N, of the Implementation Act on Prudential Supervision of Investment Firms Directive enters into force.”
Annex A of the Rbb 2021 contains the remuneration rules for banks and investment firms that fall or will continue to fall within the scope of the Capital Requirements Regulation (CRR). Annex A contains some textual adjustments and corrections to better reflect the wording of the Capital Requirements Directive (CRD). Additionally, the provision on state aid that was deleted in the revision of the Rbb 2017 has been reinstated in Annex A of Rbb 2021. Annex B to the Rbb 2021 contains the remuneration rules for investment firms that fall within the scope of the Investment Firms Directive and Investment while Annex C contains the remuneration rules for premium pension institutions.
Related Links (in English and Dutch)
Comment Due Date: May 14, 2021
Keywords: Europe, Netherlands, Banking, Investment Firms, IFD, IFR, CRR, CRD, Basel, Remuneration, AFM, DNB
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