HC-5.2 HC-5.2 Remuneration Structure
HC-5.2.1
The Board of Directors must:
(a) Review thelicensee's remuneration policies and amounts forapproved persons taking into account totalremuneration including salaries, fees, expenses and employee benefits which must be approved by the shareholders; and(b) Recommend Board membersremuneration based on their attendance and performance.October 2019HC-5.2.2
Remuneration (including incentives, bonuses and other rewards) ofapproved persons must be sufficient enough to attract, retain and motivate persons of the quality needed to run thelicensee successfully, but thelicensee must avoid paying more than is necessary for that purpose.October 2019HC-5.2.3
Where
remuneration is structured so as to link rewards to corporate and individual performance, criteria should avoid excessive focus on short-term profitability measures, without due regard to the longer-term consequences of actions taken.October 2019Alignment of All Staff Remuneration with Compliance with AML/CFT Requirements
