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Tapestry - Financial Services: EU – EBA Consultation
on guidelines for sales staff
December 2015
Dear Client,
The EBA has today issued a consultation on how sales staff are paid,
this is in addition to the Remuneration Guidelines it issued
yesterday applying to CRD businesses. Click here to view the consultation.
Why?
The EBA is concerned that there are poor remuneration practices which
have promoted mis-selling of products and services.
Who is in scope?
Staff employed by credit institutions, credit intermediaries,
payment institutions and electronic money institutions, when
providing deposits, payment accounts, payment services, electronic
money, mortgages, and other forms of credit to consumers.
What happens
next?
Responses to the EBA by 22 March 2016. The EBA will publish the
final guidelines Summer 2016.
We will be reviewing the draft guidelines and will let you more
information on this in the New Year.
If I, or any of our team, can be of help please do let us
know. We will be having some roundtable discussions for
our clients on these guidelines and if you would like to be
invited please let Gabby know.
Janet Cooper
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