Europe: ESMA final report - guidelines on sound remuneration policies under the UCITS and AIFM Directives

The European Securities and Markets Authority (ESMA) has published its final report Guidelines on sound remuneration policies under the UCITS Directive and AIFMD: see here (pdf). Part 11 of the report sets out guidelines concerning the governance of remuneration, and suggests that all management companies (even those that are not obliged to do so under Article 14b(4) of the UCITS Directive) should have a remuneration committee.