20 Amendments of Vicky FORD related to 2010/2009(INI)
Amendment 1 #
Motion for a resolution
Citation 6 a (new)
Citation 6 a (new)
– Having regard to the OECD's Corporate governance and the financial crisis - conclusions and emerging good practices to enhance implmentation of Principles of February 2010,
Amendment 4 #
Motion for a resolution
Recital A
Recital A
A. whereas inappropriate remuneration structures of financial institutions that incentivise excessive and imprudent risk- taking have been one of the main causes of the current financial, economic and social crisis, and are therefore a major issue of concern for policy-makers and regulators,
Amendment 10 #
Motion for a resolution
Recital E
Recital E
Amendment 13 #
Motion for a resolution
Recital E c (new)
Recital E c (new)
Ec. whereas remuneration structures should be appropriate to financial institutions and listed firms' size, internal organisation and the nature, the scope and the complexity of their activities,
Amendment 17 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Stresses that everysupervisory authorities should decide on whether a financial institution andor listed company should have a remuneration committee which. It should do so in a way that is appropriate to their size, internal organisation and the nature, scope and complexity of their activities. Where the supervisor has deemed it appropriate, the remuneration committee should determine the remuneration policy, which must be independent and accountable to shareholders and supervisors and should work closely with the firm's risk committee in the evaluation of the incentives created by the compensation system as well as with the trade unions' representatives;
Amendment 22 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Believes that the chair and the voting members of the remuneration committee must be members of the management body who do not perform any executive functions in the financial institution concerned;
Amendment 25 #
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 31 #
Motion for a resolution
Paragraph 9
Paragraph 9
Amendment 42 #
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 45 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Considers that guaranteed bonuses should not be part of the compensation plansa prospective remuneration plan. Exceptional minimum bonuses should only occur in the context of hiring new staff and should be limited to the first year of employment;
Amendment 47 #
Motion for a resolution
Paragraph 15
Paragraph 15
Amendment 55 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Stresses that there must be an appropriate balance between variable and fixed remuneration and that in particular an individual's bonus must not make up more than 50% of their total annual remuneration;
Amendment 58 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Suggests that variable remuneration should be paid only if it is sustainable in the light of the financial situation of the institution and justified in the light of the long-term performance of the firmlimited as a percentage of net revenues in the event it is inconsistent with the maintenance of a sound capital base;
Amendment 66 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. Believes that a substantial proportion, i.e.such as more than 50%, of variabledeferred compensation should be awarded in shares or share-linked instruments, as long as these instruments create incentives aligned with long-term value creation and the time horizons of risk;
Amendment 70 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Calls on the Commission to adopt strong binding principles on remuneration policies in the financial sector as suggested in the draft report on the CRD and a naming and shaming procedure for listed companies which do not respect these principles;
Amendment 75 #
Motion for a resolution
Paragraph 24 a (new)
Paragraph 24 a (new)
24a. Invites the Commission to consider the roles of both internal and external auditors as part of ensuring the full spectrum of effective corporate governance;
Amendment 76 #
Motion for a resolution
Paragraph 24 b (new)
Paragraph 24 b (new)
24b. Calls on the Commission to investigate strengthening the roles of non- executive directors including ensuring that firms provide on-going training and independent remuneration packages that reflect the independent role of non- executive directors as well as providing the powers to supervisors to conduct "approved persons" interviews;
Amendment 77 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Calls on the Commission to ensure in its legislation the decisive role of the supervisory authority in remuneration policy and risk management; at national authorities work together in ensuring even application of remuneration policy and risk management across Member States, and in alignment with G20 standards;
Amendment 79 #
Motion for a resolution
Paragraph 26
Paragraph 26
Amendment 82 #
Motion for a resolution
Paragraph 27
Paragraph 27