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HC-5.4.30

Past version: Effective from 01 Jul 2014 to 30 Sep 2016
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For approved persons and material risk-takers, other than those covered under Paragraphs HC-5.4.9 and Section HC-5.5, as their actions have a material impact on the risk exposure of the bank:

(a) A substantial proportion of remuneration must be variable and paid on the basis of individual, business-unit and bank-wide measures that adequately measure performance; and
(b) The variable proportion of remuneration must increase significantly along with the level of seniority and/or responsibility.
Amended: July 2014
Added: January 2014