41. In the assessment of sufficient time commitment of a member, institutions should take at least …

In the assessment of sufficient time commitment of a member, institutions should take at least the following into account:

• a. the number of directorships in financial and non-financial companies held by that member at the same time, taking into account possible synergies when they are held within the same group, including when acting on behalf of a legal person or as an alternate of a member of the management body;
• b. the size, nature, scope and complexity of the activities of the entity where the member holds a directorship and, in particular, whether or not the entity is a non-EU entity;
• c. the member’s geographical presence and the travel time required for the role;
• d. the number of meetings scheduled for the management body;
• e. the directorships in organisations which do not pursue predominantly commercial objectives held by that member at the same time;
• f. any necessary meetings to be held, in particular, with competent authorities or other internal or external stakeholders outside the management body’s formal meeting schedule;
• g. the nature of the specific position and the responsibilities of the member, including specific roles such as CEO, chairperson, or chair or member of a committee, whether the member holds an executive or non-executive position, and the need of that member to attend meetings in the companies listed in point (a) and in the institution;
• h. other external professional or political activities, and any other functions and relevant activities, both within and outside the financial sector and both within and outside the EU;
• i. the necessary induction and training;
• j. any other relevant duties of the member that institutions consider to be necessary to take into account when carrying out the assessment of sufficient time commitment of a member; and
• k. available relevant benchmarking on time commitment, including the benchmarking provided by the EBA²⁰ .

²⁰ Figures for the year 2015 are included as an Annex to the impact assessment of these Guidelines.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA -

  EN: Guidelines and other publications of the European Banking Authority (EBA), https://www.eba.europa.eu/. © European Banking Authority. Reproduction is authorised provided the source is acknowledged (EBA legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the versions published by the EBA are authoritative.

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