4. Additional specifications regarding the high-earner data collection with Annex I

For allocating high earners to functions or business areas in Annex I, firms should consider their internal organisation and the following:

• a. Members of the management body, including members of the management body of subsidiaries, but excluding members of the management body of investment firms that are subject to Articles 25 and 34 of Directive (EU) 2019/2034, should be allocated, as applicable, to the column ‘management body in its supervisory function’ or ‘management body in its management function’ independently of the business model of the firm.
• i. ‘ Management body (MB) supervisory function ’ , are the members of the management body in the role of overseeing and monitoring management decision-making (i.e. non-executive directors).
• ii. ‘ Management body (MB) management function ’ , are the members of the Management Body, who are responsible for its management functions (i.e. executive directors).
• b. ‘ Investment banking ’ should include corporate finance, trading and sales as defined in Article 317, Table 2 of Regulation (EU) 575/2013, capital market-driven transactions as defined in Article 192(3) of Regulation (EU) 575/2013 and private equity.
• c. ‘ Retail banking ’ should include the institutions total lending activity (to individuals and enterprises).
• d. ‘ Asset management ’ in Annex I should include the asset management within:
• i. the institution;
• ii. subsidiaries that are institutions; and
• iii. subsidiaries that are undertakings for the collective investment in transferable securities, alternative investment fund managers and investment firms that are not subject to Articles 25 and 34 of Directive (EU) 2019/2034.
• e. ‘ Corporate functions ’ should include staff in all functions that are responsible for the whole institution at the consolidated level and for subsidiaries with such functions at the individual level, e.g. human resources, information technology.
• f. ‘ Independent control functions ’ should include only staff active in the independent risk management, compliance and internal audit functions as described in Section 19 of the EBA Guidelines on internal governance under Directive 2013/36/EU.
• g. ‘ All high earners in subsidiaries that are subject to Articles 25 and 34 of Directive (EU) 2019/2034 ’ should include all high earners and their remuneration to be included in Annex II.
• h. ‘ All other high earners ’ should include staff that cannot be allocated to one of the functions or business areas under (a) to (g).