The Ordinary General Meeting of credit institutions and finance companies is consulted annually on the total remuneration of all kinds paid during the previous financial year to the persons referred to in article L. 511-71.
The implementation of the remuneration policy is subject, at least once a year, to a central and independent internal evaluation in order to ensure compliance with the remuneration policy and procedures adopted by the board of directors, the supervisory board or any other body exercising equivalent supervisory functions. In the branches of credit institutions referred to in I of Article L. 511-10, the implementation of the remuneration policy is subject,…
Staff performing control functions are remunerated according to the achievement of objectives related to their functions, independently of the performance of the business areas they control.
The remuneration policy of credit institutions and finance companies makes a distinction, based on clear criteria, between basic fixed remuneration and variable remuneration. Basic fixed remuneration primarily reflects professional experience in relation to the position held and the responsibilities exercised as stipulated in the employment contract or mentioned in the job description. Variable remuneration reflects sustainable performance in line with the Group’s risk policy. It also reflects performance that goes…
Where performance is taken into account, variable remuneration is determined on the basis of a combined assessment of the individual’s performance, the performance of his or her business unit and the overall results of the credit institution or finance company. The performance measurement takes into account all the risks to which the credit institution or finance company is or is likely to be exposed, as well as liquidity requirements and…
The variable part of the total remuneration of the persons referred to in Article L. 511-71 may not exceed the amount of the fixed part of this remuneration. By decision of the competent general meeting of the credit institution or finance company, it may be increased to twice the amount of the fixed remuneration. The relevant General Meeting shall act by a two-thirds majority provided that at least half of…
Credit institutions or finance companies may apply a discount rate to no more than one quarter of the total variable remuneration provided that the payment is made in the form of deferred instruments for a period of at least five years.
Payments linked to the early termination of a contract must correspond to effective performance assessed over time. Overall remuneration linked to compensation or the purchase of previous employment contracts must be consistent with the long-term interests of the credit institution or finance company.
At least half of the variable remuneration shall be allocated in the form of shares or equivalent ownership rights and, where applicable, other instruments referred to in Articles 52 or 63 of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 or other instruments that may be fully converted into core capital instruments or amortised, depending on the legal structure of the credit…
The payment of at least 40% of the variable part of the total remuneration is deferred for a period of at least four years. The amount of the payment is fixed taking into account the nature of the business, the risks to which it is exposed and the activity of the person concerned within the credit institution or finance company. In institutions of significant importance in terms of their size,…
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
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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
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