“On 6 June 2014 the Commission Delegated Regulation N° 604/2014 of 4 March 2014 on the definition of “Identified Staff” was published in the Official Journal of the EU. It sets out qualitative and quantitative criteria that should be used by financial institutions when defining the categories of staff whose professional activities have a material impact on the institutions’ risk profiles (the “Identified Staff”).
Indeed, in the course of 2012, the European Banking Authority (EBA) conducted a survey aiming at assessing how legislators and supervisors in the various member states had implemented the CEBS Guidelines on Remuneration Policies and Practices in their legislative frameworks. The result showed that the numbers of “Identified Staff” differed considerably between Member States, but [that] there was a clear tendency of institutions to select very low numbers. It clearly became essential for the regulators to establish clear criteria and a harmonized process to identify risk takers in a single entity and within groups.
There are 6 articles that make up the new Regulation.”
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http://blog.kpmg.lu/how-do-you-identify-staff-having-an-impact-on-your-risk-profile/
