The European Banking Authority has published Guidelines on the benchmarking exercises on remuneration practices and the gender pay gap under Directive (EU) 2019/2034 and Guidelines on the data‐collection exercises regarding high earners under Directive 2013/36/EU and Directive (EU) 2019/2034. 

The benchmarking guidelines will apply from 31 December 2022 and investment firms will be required to submit the applicable data (except for gender pay gap) for the financial year ending in 2022 to competent authorities by 31 August 2023.  The first benchmarking exercise regarding the gender pay pap is due to concern the 2023 financial year.

The high earner data collection guidelines will replace the existing guidelines with effect from 31 December 2022.  Investment firms will be required to submit high-earners data for the financial year ending in 2022 to competent authorities by 31 August 2023.

Please contact Jennifer Wood with any questions.