EBA: final guidelines on the remuneration, gender pay gap and data collection on high earners

On 30th of June, the European Banking Authority published its final guidelines on the remuneration, gender pay gap and data collection on high earners. The Guidelines cover both the regulatory framework under the Capital Requirements Directive (CRD) and Investment Firms Directive (IFD). The update was necessary to consider the additional requirements introduced by CRD V related to the application of derogations and the benchmarking of the gender pay gap. The EBA also added guidance to harmonize the benchmarking the benchmarking of approvals granted by shareholders to use higher ratios than 100% between the variable and fixed remuneration. For data collection on high earners, the CRD and IFD require competent authorities to collect information on the number of natural persons per institution who are renumerated EUR 1 million or more per financial year.

The information should also include details on their job responsibilities, the business area and the main elements of the salary, bonus, long-term award, and pension contribution.

In this alert, you will read more details about these guidelines.