El blog de Maria

Congress aproved last week a new Act on financial brokers which enables the Stock Comission ( CNMV), as Bank of Spain does,  to request investment companies to limit variable remunerations when this is not compatible to maintaining a solid capital base.

Both institutions will have authorization to gather information about people in credit entities and investment companies with remuneration of at least one million of Euros and to transmit this information to both the European Bank Authority (EBA) and the European Authority of Stocks and Markets (ESMA)

Data about remuneration will include the implied business field and main components of the salary, incentives, long dated bonuses and pension contributions. This information will always be used according to the Data Protection rules. 

Atlanterra beach, Zahara de los Atunes, Cadiz, Spain by Paul Rios at Flickr.com