For banks and other dual-regulated firms with a calendar year financial year, the deadline to submit requests to exclude individuals from being identified as MRTs under CRD V for 2022 is 30 June 2022. Those firms that have not yet submitted a request should seek to do so without delay.

 

Firms are required to notify the PRA and FCA of any individual earning more than €500k (£440k) that they intend to exclude and request approval for any individual earning more than €750k (£658k) that they intend to exclude. No notification is required for individuals earning less than €500k.

 

To exclude individuals firms should complete Remuneration Policy Statement Table 8 (available here under the Self-assessment templates and tables heading) and send this by email to their normal supervisory contacts and the PRA’s Authorisations division (PRA-Waivers@bankofengland.co.uk), with the FCA’s Remuneration Code mailbox (remuneration-code@fca.org.uk) in copy.

 

Further information regarding the exclusion process and the supporting material required can be found in the instructions sheet of Table 8.