126. Remuneration is fixed where the conditions for its award and its amount: a. are based on …

Remuneration is fixed where the conditions for its award and its amount:

• a. are based on predetermined criteria;
• b. are non-discretionary reflecting the level of professional experience and seniority of staff;
• c. are transparent with respect to the individual amount awarded to the individual staff member;
• d. are permanent, i.e. maintained over a period tied to the specific role and organisational responsibilities;
• e. are non-revocable; the permanent amount is only changed via collective bargaining or following renegotiation in line with national criteria on wage setting;
• f. cannot be reduced, suspended or cancelled by the investment firm;
• g. do not provide incentives for risk assumption; and
• h. do not depend on performance.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA -

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