Commission Delegated Regulation (EU) 2021/2154

In force

This text since 13 Aug 2021law://eu/reg/2021/2154/rct_1@2026-11-12

(1)While investment firms falling within the scope of Regulation (EU) No 575/2013 of the European Parliament and of the Council^note and of Titles VII and VIII of Directive 2013/36/EU of the European Parliament and of the Council^note, in accordance with Article 1(2) and (5) of Regulation (EU) 2019/2033 of the European Parliament and of the Council^note, are subject to Commission Delegated Regulation (EU) 2021/923^note, investment firms falling within the scope of Directive (EU) 2019/2034 of the European Parliament and of the Council are required to apply specific requirements to the variable remuneration of all members of staff whose professional activities have a material impact on the risk profile of the investment firm or of the assets that it manages. It is necessary to lay down appropriate criteria to identify those staff members. Those criteria should take into account the authority and responsibilities of such staff members, the investment firm’s risk profile or that of the assets it manages and performance indicators, the investment firm’s internal organisation, and the nature, scope and complexity of the firm concerned. Those criteria should also enable investment firms to set proper incentives in their remuneration policies to ensure that the staff members concerned act prudently when performing their tasks. Lastly, those criteria should reflect the level of risk of different activities within the investment firm.

Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.

Key facts

Type: Delegated regulation · Commission Delegated Regulation (EU) 2021/2154 · EEA relevant
Adopted: 13 Aug 2021
In force: 12 Dec 2021
Made by: Directorate-General for Justice and Consumers, European Commission
Official: EUR-Lex 32021R2154 · ELI

Topics

capital market financial control financial legislation financial risk financial supervision investment company manager remuneration of work risk management technical standard Financial provisions Freedom of establishment

History · 1 version

13 Aug 2021Reading

Connections

See on a map

Cites 6: Regulation (EU) No 575/2013; Directive 2013/36/EU; Regulation (EU) 2019/2033; Directive (EU) 2019/2034; this act; Commission Delegated Regulation (EU) 2021/923

Defined terms · 3

Show every defined term

business unit
means a business unit as defined in Article 142(1), point (3), of Regulation (EU) No 575/2013.
control function
means a function that is independent from the business unit it controls and that is responsible for providing an objective assessment of the investment firm’s risks, review or report on those, including, but not limited to, the risk management function, the compliance function and the internal audit function;
managerial responsibility
means a situation in which a staff member heads a business unit or a control function and is directly accountable to the management body as a whole or to a member of the management body or to the senior management;