![]() ![]() ![]() Therefore, they will not have an existing obligation to identify material risk takers for remuneration purposes and the PRA considers that many of the criteria in the Material Risk Takers Regulation would not, in practice, be relevant to credit unions. ![]() Meetings were held amongst the departments of Compliance, Human Resources and Risk Management for the purpose of conducting an analysis of the personnel that falls under the definition of Material Risk Takers (“MRTs”), prior of presenting the final list to the Risk and Remuneration Committees.Ĭode staff are comprised of Senior Managers (covered by the Senior Managers Regime), Risk Managers excluding those covered by the Senior Managers Regime, and all other Material Risk Takers (MRTs).Ĭlawback provisions will apply only to awards made to individuals classified as Material Risk Takers at the time of award.įurther, private sector banks and foreign banks (to the extent applicable), shall disclose the following information: Type ofdisclosure Type ofdisclosure Current YearPrevious YearQuantitative disclosures(The quantitative disclosures should only cover Whole Time Directors/ Chief Executive Officer/ Material Risk Takers) (g)Number of meetings held by the Nomination and Remuneration Committee during the financial year and remuneration paid to itsmembers.ĭisclosures on remuneration(Applicable to Banking Companies, including Foreign Banks operating in India) Banks are required to make disclosure on remuneration of Whole Time Directors/ Chief Executive Officers/ Material Risk Takers on an annual basis at the minimum, in their Annual Financial Statements. Examples of Material Risk Takers in a sentenceĪwards granted to Material Risk Takers (“MRTs”) are subject to a six or twelve month holding period (“Holding Period”) during which the shares cannot be sold, charged, pledged, mortgaged or otherwise encumbered. ![]()
0 Comments
Leave a Reply. |