Wallich has a Remuneration Policy, which imposes specific requirements in relation to remuneration. The following principles apply:
Management defines, approves and oversees the remuneration policy for persons involved in the provision of services to clients.
Wallich takes appropriate steps to identify and to prevent or manage conflicts of interest, including conflicts arising from the Wallich’s remuneration structures.
Management seeks advice from the compliance function before approving a remuneration policy.
Senior management are responsible for the day-to-day implementation of the remuneration policy and the monitoring of compliance risks related to the policy.
The Remuneration Policy is designed in a way that does not create incentives that may lead staff to favour their own or the firm's interests to the potential detriment of clients; and
Remuneration has an appropriate balance between fixed and variable components.