Compensation Practices – Implementation
The G20 Leaders in the November 2011 Cannes Summit Declaration called on the FSB to “undertake an ongoing monitoring and public reporting on compensation practices focused on remaining gaps and impediments to full implementation of these standards and carry out an ongoing bilateral complaint handling process to address level playing field concerns of individual firms”.
The FSB has designated compensation practices as one of the priority areas for implementation monitoring. The task of regular monitoring and reporting in this area is carried out by the FSB Compensation Monitoring Contact Group (CMCG). This includes monitoring and reporting on national/regional implementation in this area and on the results of the bilateral complaint handling process, a mechanism by which national supervisors from the FSB member jurisdictions work together to verify and, as needed, address specific compensation-related complaints by financial institutions that give rise to level playing field concerns.
The FSB reports on the status of implementation of compensation reforms in its Annual Report.
Status of implementation
View status of implementation of reforms in priority areas by FSB jurisdictions as reported in the latest FSB Annual Report to G20 (as of November 2022).
For further information, see the latest FSB compensation progress report (as of November 2021).