FFFS 2014:22

Regulations amending Finansinspektionen’s regulations (FFFS 2011:1) regarding remuneration systems in credit institutions, investment firms and fund management companies licensed to conduct discretionary portfolio management

In force from 2014-08-02 , amending FFFS 2011:1


As part of the implementation of the Capital Requirements Directive into Swedish law, certain points of the regulations have been amended. Several of the most important amendments include the following. The rule about who may form the Remuneration Committee in significant undertakings is changed so that employees may not be included in the Committee, with the exception of employee representatives. The defined term "specially regulated staff" is replaced by the term "employees whose tasks have a significant impact on the undertaking's risk profile". These employees must now be identified in part through the firm's own analysis and in part through application of a European regulation that specifies some quantitative and qualitative criteria. A new provision is also introduced that requirements the remuneration policy to contain clear criteria for establishing fixed and variable remuneration, and the differences between these criteria shall be clearly specified. The provision on the adjustment of the variable remuneration has been changed to only include employees whose tasks have a significant impact on the undertaking's risk profile. The amendments enter into force on 2 August 2014. Amendment 2014:22


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