The Committee of European Banking Supervisors (CEBS) has published today its final Guidelines on Remuneration Policies and Practices.
In revising the Guidelines, CEBS benefited from the views gathered from a wide spectrum of market participants and from academia. Input was provided through 39 responses to a public consultation and through a public hearing held at CEBS premises. Furthermore, the Committee of European Securities Regulators (CESR) rendered an opinion which placed particular focus on the scope of the guidelines and on the proportionality principle vis-à-vis firms providing investment services.
The final Guidelines shall be implemented as from 1 January 2011 in line with the entry into force of CRD III. CEBS has planned to carry out an implementation study in the fourth quarter of 2011 also in response to the concerns raised with regard to the convergent application of the CRD and the guidelines within the EEA.