Retained EU Law SI 2015/38 United Kingdom

Decision (EU) 2015/2218 of the European Central Bank of 20 November 2015 on the procedure to exclude staff members from the presumption of having a material impact on a supervised credit institution's risk profile (ECB/2015/38)

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Financial Services Firm3

Plus 1 duty on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Financial Services Firm — also bound by 167 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art004 Documentation required to substantiate that a business unit is not material Regulated
  • Submit documentation to prove a staff role is not materialFinancial Services Firm
s.art005 Documentation to substantiate that a staff member's professional activities have no material impact on the risk profile of a material business unit Regulated
  • Submit documentation to ECB to prove staff member has no material risk impactFinancial Services Firm
s.art006 Supplementary documentation to substantiate applications for staff members awarded a total remuneration of EUR 1 000 000 or more Regulated
  • Submit supplementary documentation for high-earning staff excluded from risk-profile rulesFinancial Services Firm
s.art009 Assessment by the ECB Regulated
Other duties (1) — Crown / regulator
  • ECB must assess staff exclusion notifications and applications and decide within 3 monthsStatutory regulator
8 other provisions — procedural and definitional
s.art001 Scope
s.art002 Definitions
s.art003 General information to be provided to the ECB
s.art007 Period for filing notifications
s.art008 Period for submitting applications for prior approval
s.art010 Duration of prior approval granted
s.art011 Transitional provisions
s.art012 Entry into force

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.