FSB reports from remuneration workshop: FSB has published a paper setting out the discussions it held in April at a workshop on remuneration practices. The workshop focused on:
- identifying material risk takers;
- use of malus and clawback clauses; and
- governance of compensation arrangements and links to risk culture.
FSB welcomes feedback on the topics by 30 July. (Source: FSB Reports from Remuneration Workshop)
FSB completes LEI system structure: FSB has established the Global Legal Entity Identifier Foundation (GLEIF) as a Swiss not-for-profit foundation. The GLEIF sits between the Regulatory Oversight Committee and the Local Operating Units in the structure for introducing a system of legal entity identifiers (LEIs). It will act as operational arm of the system, providing support to the application of uniform operational standards and protocols and to the maintenance of the LEIs database. (Source:Establishment of GLEIF)