Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-07-07-Speech-3-998"
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"en.20100707.23.3-998"2
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"Following the financial and economic crisis that is currently raging, changes will need to be made in terms of remuneration policies in the financial services sector and publicly traded companies. However, to avoid a disorganised approach and to institute equal competition conditions between the different Member States, we need a European initiative. I therefore fully support this initiative. In fact, it is vital that from now on, we avoid an excessive increase in risks at the level of each company and, in particular, that we avoid a general worsening of the systematic risk. As is underlined in the report, the decision to run these kinds of risks rests with the Boards of Directors and CEOs of these companies as well as the employees who work for them. In order to keep control of bonuses for traders and directors of European banks, the report plans for traders, in future, to receive a maximum of 60% of their variable remuneration immediately and a substantial part (at least 40%) after a period of at least three years so as to take account of long-term risks."@en1
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