The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has postponed the commencement of the revised Remuneration Ordinance for Institutions (Institutsvergütungsverordnung – InstitutsVergV) for editorial and technical reasons. According to BaFin the InstitutsVergV, will come into force in the second quartile 2017. The revised draft implements the European Banking Authority’s (EBA’s) Guidelines on sound remuneration policies, which apply from 1 January 2017 (see our blog entry here). The ordinance is applicable to credit and financial institutions as well as institutions in the meaning of section 53 para. 1 sentence 1 German Banking Act (Kreditwesengesetz – KWG), which are subject to the special organisational requirements of section 25a KWG.