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CRD IV/CRR and IFD/IFR remuneration requirements in the EU

CRD IV/CRR and IFD/IFR remuneration requirements in the EU This Practice Note discusses the EU remuneration provisions under the Capital Requirements Directive 2013/36/EU (EU CRD IV) and Regulation (EU) 575/2013 (EU CRR), together with the remuneration provisions under the Investment Firms Directive (EU) 2019/2034 (IFD) and the Investment Firms Regulation (EU) 2019/2033 (IFR). The rules relate to remuneration paid by credit institutions and investment firms to their staff. Background and introduction to EU CRD IV and EU CRR Following the global financial crisis of 2008, the Financial Stability Board (FSB) and a number of national regulators conducted reviews into the governance and structure of remuneration arrangements within the financial services sector. The main conclusions drawn from these reviews were that: • firms (and regulators) had failed to appreciate the extent to which remuneration policies and practices could encourage excessive risk-taking • the structure of remuneration specifically could encourage excessive risk taking by focusing on cash-based, short-term incentives • bonus pool calculations did not sufficiently take account of firms’ capital and...

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LTIP—participant agreement

LTIP—participant agreement This PARTICIPANT AGREEMENT should be signed and returned within [30] DAYS of the grant of your award, OTHERWISE THE AWARD WILL LAPSE. THEREFORE, PLEASE CAREFULLY READ THis AGREEMENT and the enclosed plan rules AND THEN SIGN this agreement before a witness (who should also sign and fill in their details where indicated), [and also sign the TAX election set out in the appendix ]. Please then return the signed Agreement [and appendix] TO [insert name AND CONTACT DETAILS ] so that it is received AS SOON AS POSSIBLE AND IN ANY EVENT BY [insert TIME AND DATE ]. [insert name of company who granted the award pursuant to the long term incentive plan (LTIP)] (Company) [insert name of LTIP] (Plan) I hereby accept the [insert type of award — ie: matched, restricted or contingent award] granted to me under the Rules of the Plan on [insert date of grant of award] (the Award). I understand that the Award was granted under, and...

LTIP — notice of exercise of option

LTIP — notice of exercise of option The Company Secretary [insert date] [insert name of company that granted the option] (Company) [[insert address of company that granted the option]] Form of notice of exercise From: [insert name of option holder] 1 Exercise of the Option I refer to the option granted to me on [insert date on which the share option was originally granted] over [insert class and nominal value of shares under option] shares in the Company (Shares) under the terms of the [insert name of LTIP under which option was granted] (Plan) (Option), and hereby give notice that I am exercising the Option in respect of [insert number of shares being exercised] Shares at the exercise price of £[insert exercise price per share as in the original grant documentation] per Share (Option Price) and request the allotment or transfer to me of those Shares in accordance with the Plan and the Memorandum and Articles of Association of the Company. I request that you...

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How UK proposals would simplify fund manager regime

Law360, Expert analysis: On 7 April 2025, HM Treasury published a consultation on regulations for alternative investment fund managers, or AIFMs. On the same day, the Financial Conduct Authority (FCA) published a call for input on the future regulation of AIFMs. Leonard Ng, partner at Sidley Austin LLP, discusses the key implications of the proposals for private fund managers, which set out a new approach to regulation of AIFMs in the UK.