A stable, well-functioning financial market for allA stable, well-functioning financial market for allBonuses: Are companies following the rules?
Finansinspektionen (FI) received an assignment from the Government to report on the implementation of the EU Recommendation on remuneration in the financial services sector, the measures taken to ensure compliance with the new rules and how affected companies have adapted to the recommendations.
FI surveyed 41 credit institutions, investment firms and fund management companies and found that only about half of the surveyed companies had sufficiently adapted to the remuneration regulations. This report highlights the compliance deficiencies identified by the survey.
In summary it can be said that a number of companies included in the survey do not perceive variable remuneration to be a risk in their operations. In some cases the companies' actions are probably due to an insufficient understanding of the rules. In others, the deficiencies are so remarkable that they leave FI with the impression that the company consciously decided to circumvent the rules.
