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Comment Letter Responding to the Committee of European Banking Supervisors’ Consultation Paper on Remuneration Guidelines. MFA submitted a comment letter to the Committee of European Banking Supervisors in response to its consultation paper on remuneration guidelines. In the letter, MFA expressed support for the underlying goals of the Guidelines and stated our view that the structure of and revenue and remuneration models of hedge fund advisers are well designed to achieve the goals of the Guideline. MFA also expressed support for the recognition of the principle of proportionality and encouraged CEBS to consider providing additional flexibility with respect to several principles in the Guidelines, including ex-post adjustment of remuneration, the definition of Identified Staff, multi-year performance assessments, and public disclosure of remuneration policies and aggregate remuneration information.
November 08, 2010
Topics: Renumeration Policies and Practices Committee of European Banking Supvisors, CEBS, Consultation Paper 42, risk management, hedge fund advisers, Member State regulators, Neutralization, Identified Staff, Ex-Post Adjustments, Required Ratios, Variable and Fixed Remuneration, public disclosure, Transition Period, Financial Companies, U.K. Financial Services Authority, CRD, Asset Management, Depository Institutions, Privately-Owned Business, sophisticated investors, Large Financial Institutions, portfolio management activities, Public Shareholder, alignment of interest, Revenue Model, management fees, performance fees, Senior Employees of Hedge Fund Advisers, European Regulatory Regime, Claw-Back, financial institution, high water marks, risk-adjusted returns, Short-Term Risk Taking, Multi-Year Assessment, Remuneration Ratio, Public Disclosure Requirements, Senior Management, Hedge Fund Adviser Fees, Fixed Overhead, Variable Renumeration, capital requirements, financial stability, Disclosure Obligation, publicly traded securities, Non-EU Parent Companies, Tax Implications, tax liabilities, Publicly Traded Companies, valuation,
To:
Jo Swyngedouw, Committee of European Banking Supervisors