On Nov. 13, BRZ CB reported remuneration policy for administrators.
BRZ CB published Resolution 432 to establish the remuneration policy for the managers of the securities brokerage firms and securities distribution companies.
Highlights
The institutions must implement and maintain a management remuneration policy.
Compatible with the nature, size, complexity, structure, risk profile, business model.
Remuneration of managers in internal control and risk management areas must attract qualified and experienced professionals; and determined regardless of performance.
Additionally, the board of directors must give the approval to the remuneration policy.
Revocation
Revoked Article 8 of Resolution 65 and Article 9 of Resolution 93, both of 2021.
