In October 2014 Competent Authorities were asked to use supervisory measures to ensure that, by 31 December 2014, institutions using "role-based allowances" adjust their remuneration policies in line with the criteria set out in the EBA Opinion.
The follow-up report concluded that Competent Authorities have taken measures in this respect and, where necessary, asked institutions to implement the necessary changes. On account of the fact that the EBA's Opinion was published in October 2014, it was not always possible for institutions to retroactively change their practices for the performance year 2014. Most affected Competent Authorities took measures that will only affect the remuneration awarded for the performance year 2015. The follow-up report highlighted that Competent Authorities are awaiting the publication of the final EBA Guidelines on sound remuneration policies before adopting specific legal or regulatory instruments following the publication of the EBA's Opinion. The guidelines are expected to be finalised by the end of 2015.