Tag archives: remuneration policy

Employment Law and Financial Institutions

In the financial sector, in addition to individual employment contracts, working conditions can be subject to various industry related statutes and regulations, collective bargaining agreements and works agreements.

Laws and regulations

As a reaction to the global financial crisis, the participants of the 2008 G20 summit in Washington, including Germany, agreed on the establishment and implementation of global standards of regulation, cross-border supervision and management to avoid conflicts of interest and to create an early warning system to avoid a repetition of the financial crisis.

In response to this resolution, the Financial Stability Board (FSB) published principles for sound compensation … Continue Reading

Legislative proposal: Dutch Financial Undertakings (Remuneration Policy) Act

Dutch Financial Undertakings (Remuneration Policy) Act

A bill in respect of remuneration in the Dutch financial sector is currently being debated in the senate: the Dutch Financial Undertakings (Remuneration Policy) Act (Wet beloningsbeleid financiële ondernemingen; the Act).

The proposed rules apply to all financial undertakings that are regulated by the Dutch Financial Supervision Act (Wet op het financieel toezicht) and have their statutory seat in the Netherlands. Such financial undertakings have to ensure that their subsidiaries, in and outside the Netherlands, also comply with the Act. If the financial undertaking is part of a group … Continue Reading

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