Identified Staff and Import factoring: Difference between pages

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imported>Doug Williamson
(Create alternative links.)
 
imported>Doug Williamson
(Amend buyer to factor.)
 
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''EU.''
The sale or transfer to a third party (factor) of legal title to accounts receivable from foreign buyers.


Term applied to staff whose professional activities have a material impact on the risk profile of the institution (credit institutions and investment firms).
In import factoring, the factor is based in the same country as the seller.
 
To ensure that such staff's remuneration is consistent with sound and effective risk management and provide an incentive for prudent and sustainable risk taking, provisions are set out in Articles 92-94 of the [http://ec.europa.eu/finance/bank/regcapital/legislation-in-force/index_en.htm Capital Requirements Directive IV] (CRD IV).
 
This Regulatory Technical Standard came into force in 2014 as the [http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2014.167.01.0030.01.ENG Delegated Regulation with regard to Identified Staff].
 
The UK introduced similar provisions in 2010 but uses the term 'Code Staff'.




==See also==
==See also==
* [[Code Staff]]
* [[Factoring]]
* [[Regulatory Technical Standard]]
* [[Export factoring]]
 
[[Category:Compliance_and_audit]]

Revision as of 09:30, 21 April 2016

The sale or transfer to a third party (factor) of legal title to accounts receivable from foreign buyers.

In import factoring, the factor is based in the same country as the seller.


See also