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Germany: Legislation regulates remuneration in banks and insurance companies

Legislation adopted in July 2010 governs remuneration systems for senior staff in German banks and insurance firms, aiming to ensure that these are "appropriate, transparent and directed at the sustainable development" of the company.

The Law on Oversight of Compensation Systems in Banks and Insurance Companies (Gesetzüber die aufsichtsrechtlichen Anforderungen an die Vergütungssysteme von Instituten und Versicherungsunternehmen) was adopted on 21 July 2010.