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  • HC-5.4 HC-5.4 Directors' Remuneration

    • HC-5.4.1

      The review of Directors' remuneration must be a standing item on the investment firm licensee's Annual General Meeting agenda, and must be considered by shareholders at every Annual General Meeting. Directors' remuneration (including pension and severance arrangements) and bonuses must be clearly disclosed in the annual financial statements.

      January 2011

    • HC-5.4.2

      Directors' remuneration should also comply with all applicable laws, such as Legislative Decree No. 21 of 2001, with respect to promulgating the Commercial Companies Law.

      January 2011

    • HC-5.4.3

      Remuneration of non-executive directors must not include performance-related elements such as grants of shares, share options or other deferred stock-related incentive schemes, bonuses, or pension benefits.

      January 2011