20. Disclosures

Competent authorities should review the public disclosures on remuneration made by investment firms in accordance with Article 51 of Regulation (EU) 2019/2033, and should establish for which investment firms a regular review of disclosures should be performed.

In addition to the benchmarking of remuneration practices required under Article 34(1) of Directive (EU) 2019/2034 and the exercise on data collection regarding high earners under Article 34(4) of that Directive, competent authorities should require periodic (or ad hoc) supervisory reporting on remuneration disclosures as appropriate in order to monitor the development of remuneration practices within investment firms and in particular within the largest investment firms in that Member State.