The Remuneration policy for Aquilla Nummus Ltd was approved at the Annual General Meeting held on October 27, 2017. The policy reflects the Company's objectives for good corporate governance as well as sustained long-term value creation for shareholders.
The Remuneration policy and practices are designed by the Senior Management of the Company with the involvement of the Compliance Officer. Where necessary risk analysis is conducted by the latter so that adequate controls are designed and implemented towards specific high risk employees to ensure safeguards are in place and potential misconduct is mitigated.
Aquilla Nummus Ltd is not offering CFDs or other speculative products, nor is dealing on own account and is therefore not exposed to the conflict of interest where the Company is profiting from losses made by the Client. The interests of our clients are aligned with the Interests of the Company as we are licensed to offer the investment services of Portfolio Management. However, we take the interest of the Company’s Clients as a priority and via the application of the present policy we promote strict alliance of the Company’s and the Clients’ interests through the remuneration practices established.
Our Remuneration policies and practices are aligned with the effective conflicts of interest management duties and conduct of business risk management obligations and their aim is to ensure that our Client’s interests are best protected where effective corporate governance is promoted.
The Company’s Remuneration policy, practices and systems are approved by the Board of Directors with the advice and assistance of the Company’s Compliance Officer. The Remuneration Policy is binding for the Company’s Board of Directors. Any departure from the policy shall be recorded and reasoned in the Board's minutes.
The Policy, the Remuneration system and their practical operation shall be reviewed by the Board of Directors on a regular basis, at least once a year and shall be amended if necessary.
The Management of the Company shall ensure that any changes to the Policy are properly communicated, documented and implemented.
At the annual performance and appraisal interview, the individual employees and managers evaluate and document performance in the past year and set new goals. When evaluating the performance, qualitative rather the quantitative criteria are used. Decisions on adjustment, if any, of the employee’s fixed salary or on annual performance-based pay are made on the basis of this appraisal.
The various remuneration components are combined when designing the remuneration package offered to the Aquilla Nummus Ltd to ensure an appropriate and balanced remuneration package.
The five remuneration components are:
The performance-based remuneration motivates and rewards high performers who significantly contribute to sustainable results, perform according to set expectations for the individual in question, strengthen long-term customer relations, and generate income and shareholder value. The Company’s policy is to determine the variable remuneration based on quantitative and qualitative criteria with emphasis on the qualitative criteria that encourage the employees to act in the best interest of the Clients and in compliance with the conduct of business rules.
Performance-based remuneration is based on an assessment of the Company’s results and a number of Key Performance Indicators (KPIs) reflecting the Company’s strategic key priorities. E.g. the KPIs cover the following: