12 Remuneration of control functions

The internal control functions should have sufficient resources, knowledge and experience to perform their tasks with regard to the investment firm’s remuneration policy. The control functions should cooperate actively and regularly with each other and other relevant functions and committees with regard to the remuneration policy and risks which may arise from remuneration policies.

The remuneration of staff in control functions should allow the investment firm to employ qualified and experienced personnel in these functions. The remuneration of control functions should be predominantly fixed to reflect the nature of their responsibilities.

The methods used for determining the variable remuneration of control functions, i.e. risk management, compliance and internal audit function, should not compromise staff’s objectivity and independence.