In all cases, the actual payment of the variable part of the remuneration, including the part deferred pursuant to Article L. 511-82, takes into account the financial situation of the credit institution or finance company and the actual performance referred to in Article L. 511-77.
By way of derogation fromarticle L. 1331-2 of the French Labour Code, the total amount of variable remuneration may, in whole or in part, be reduced or give rise to restitution where the person concerned has failed to comply with the rules laid down by the institution with regard to risk-taking, in particular because of his or her responsibility for actions resulting in significant losses for the institution or in…
For the application of Articles L. 1226-15, L. 1234-9, L. 1235-3, L. 1235-3-1, L. 1235-11 and L. 1235-16 of the Labour Code, the determination of the compensation payable by the employer does not take into account, for risk-takers within the meaning of Articles 3 and 4 of Commission Delegated Regulation (EU) No 604/2014 of 4 March 2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council by technical…
The persons referred to in article L. 511-71 are prohibited from using individual hedging or insurance strategies with regard to remuneration or liability in order to limit the application of the provisions of this sub-section. The provisions of the previous paragraph are a matter of public policy.
Variable remuneration awarded by credit institutions and finance companies benefiting from exceptional public assistance is strictly limited when it is not compatible with their ability to maintain their capital at a sufficient level and to exit the public assistance programme in due course. Subject to compliance with the provisions of V of Article 4 of the Amending Finance Act 2011-1416 of 2 November 2011, no variable remuneration shall be paid…
The Autorité de contrôle prudentiel et de résolution is responsible for examining the remuneration policies and practices of credit institutions and finance companies with regard to the persons mentioned in Article L. 511-71.
A decree in the Conseil d’Etat shall define the conditions for application of this sub-section.
Within credit institutions and finance companies of significant importance in terms of their size and internal organisation as well as the nature, scale and complexity of their activities, the board of directors, the supervisory board or any other body exercising equivalent supervisory functions shall set up a risk committee, an appointments committee and a remuneration committee. The branches of credit institutions referred to in I of article L. 511-10, where…
The committees referred to in Article L. 511-89 are made up of members of the board of directors, the supervisory board or any other body exercising equivalent supervisory functions who do not exercise management functions within the credit institution or finance company. In the case of a branch of a credit institution referred to in I of Article L. 511-10, the committees and arrangements provided for in the second paragraph…
Where the credit institutions and finance companies referred to in Article L. 511-89 are part of a group subject to supervision by the Autorité de contrôle prudentiel et de résolution on a consolidated or sub-consolidated basis, the board of directors, the supervisory board or any other body exercising equivalent supervisory functions may decide, unless ordered to do so by the Autorité de contrôle prudentiel et de résolution, in accordance with…
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Resources
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Useful links
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.
All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.
