Pregledni rad
THE REMUNERATION POLICIES OF CREDIT INSTITUTIONS IN EUROPEAN AND CROATIAN LAW
Dionis Jurić
; Pravni fakultet Sveučilišta u Rijeci
Sažetak
The European Commission adopted a Recommendation on remuneration policies in the financial services’ sector in 2009 as a response to the financial crisis in the period of 2008 to 2009. The Recommendation was applicable to all financial institutions. The listed financial institutions were subject to the previous Recommendations on the remuneration policy of listed companies adopted in 2004, 2005 and 2009. Different practices of EU Member States in the implementation of non-binding recommendations in national jurisdictions not only lead to incompatibility, but also endangered the goals of the European Commission. To eliminate this situation the European Parliament and the Council adopted the Capital Requirements Directive (hereinafter: CRD III) in 2010 which regulates the remuneration policy in credit institutions and investment firms. Likewise, the Committee of the European Banking Supervisors adopted Guidelines on Remuneration Policies and Practices in 2010 to facilitate implementation of CRD III. CRD III promotes harmonization of national jurisdictions of EU Member States in design, execution and supervision of the remuneration policy in credit institutions and investment firms. The Croatian Government proposed a revision of the Credit Institutions Act at the end of 2012, with the view of harmonizing its provisions with CRD III provisions on the remuneration policy in credit institutions. The Croatian National Bank drafted the Decision on the remuneration of staff which regulates the remuneration policy in credit institutions in detail.
Ključne riječi
remuneration policy; credit institutions; Capital Requirements Directive III; European Union; Republic of Croatia
Hrčak ID:
116294
URI
Datum izdavanja:
12.4.2013.
Posjeta: 2.252 *