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20 April 2018
The Bank of Italy recently commenced a public consultation on the proposed amendments to Regulation 285/2013 on remuneration policies in the banking sector, the main aim of which is to align the regulation with the European Banking Authority Guidelines of December 2015(1) and ensure compliance with Articles 74(3) and 75(2) of the EU Capital Requirements Directive (2013/36/EC). The consultation will end on May 14 2018.
The proposed amendments to Regulation 285/2013 apply to both banks and investment firms, in line with the joint regulation issued by the Bank of Italy and the Italian Companies and Exchange Commission.
The recommended changes, which will likely be confirmed, include:
Additional and more detailed provisions have also been introduced in the sensitive area of golden parachutes.
For further information on this topic please contact Andrea Giannelli or Marco Penna at Legance Avvocati Associati by telephone (+39 02 89 63 071) or email (email@example.com or firstname.lastname@example.org ). The Legance Avvocati Associati website can be accessed at www.legance.com.
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