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French Monetary and Financial Code

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Article L533-30-1 of the French Monetary and Financial Code

November 7, 2023

The board of directors, the supervisory board or any other body exercising equivalent supervisory functions adopts and regularly reviews the remuneration policy and assumes overall responsibility for supervising its implementation. In the case of a branch of a third-country undertaking mentioned in Article L. 532-48 and where the third-country undertaking is an investment firm, the persons mentioned in 4° of II of Article L. 532-48 transmit to the body of…

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Article L533-30-2 of the French Monetary and Financial Code

November 7, 2023

The implementation of the remuneration policy is subject, at least once a year, to a central and independent internal assessment in the exercise of supervisory functions. In the branches of third-country undertakings referred to in Article L. 532-48 and where the third-country undertaking is an investment firm, the implementation of the remuneration policy is subject, at least once a year, to a central and independent internal assessment in the exercise…

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Article L533-30-4 of the French Monetary and Financial Code

November 7, 2023

The remuneration of senior executives in charge of risk management and compliance is directly supervised by the remuneration committee referred to in article L. 533-31-4 or, if no such committee has been set up, by the board of directors, the supervisory board or any other body exercising equivalent supervisory functions in the performance of its supervisory role.

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Article L533-30-5 of the French Monetary and Financial Code

November 7, 2023

The remuneration policy of investment firms 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, risk-adjusted performance on the part of the employee. It also reflects performance that goes beyond the stipulations…

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Article L533-30-6 of the French Monetary and Financial Code

November 7, 2023

The fixed portion of the total remuneration of the persons referred to in Article L. 533-30 represents a sufficiently large portion of the total remuneration to allow the greatest possible flexibility with regard to the variable portion of the total remuneration, in particular the possibility of paying none at all. The ratio of the variable part of the total remuneration to the basic fixed remuneration of the persons mentioned in…

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Article L533-30-7 of the French Monetary and Financial Code

November 7, 2023

No variable remuneration is paid to the persons mentioned in 1° and 2° of Article L. 533-25 within an investment firm benefiting from exceptional public financial support. Variable remuneration paid to persons other than those mentioned in 1° and 2° of Article L. 533-25 by an investment firm benefiting from exceptional public financial support is limited to a percentage of net income when it is not compatible with its ability…

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Article L533-30-8 of the French Monetary and Financial Code

November 7, 2023

Where performance is taken into account, the variable remuneration granted and paid to the categories of staff referred to in Article L. 533-30 shall be determined on the basis of a combined assessment of the individual performance of the person concerned, the performance of his business unit and the overall results of the investment firm. The measurement of performance shall take into account the risks to which the investment firm…

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Article L533-30-9 of the French Monetary and Financial Code

November 7, 2023

Payments linked to the early termination of an employment contract must correspond to effective performance assessed over time and not reward failure or fault. Global remuneration linked to compensation or buy-outs of previous employment contracts must be consistent with the long-term interests of the investment firm.

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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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Linkedin

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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