# Management standards

- Canonical URL: https://www.gerhardmerk.de/management-standards
- Post ID: 594050
- Modified: 2023-07-25T21:03:54+00:00
- Language: en

## Definition

For banks, the supervisory authorities generally prescribe very precise quality requirements with regard to organization and management; cf. for Germany § 24 ff. KWG. These requirements are monitored by the supervisory authority. - See dismissal order, competence, professional, expertise, sanction committee, forced closure. - Cf. 2007 Annual Report of BaFin, p. 143 (prohibition order due to organizational deficiencies). Manager relocation (transfer of managers): Unless otherwise defined, this refers to the relocation of top earners in the financial sector from a country with unfavorable circumstances - such as, above all, poor infrastructure, political uncertainty, anti-bank public opinion, high taxes - to another country, from where business is then conducted. - In December 2009, for example, the British government imposed a fifty percent tax on 2009 bonuses above a certain level. As a result, London-based institutions - the U.S. bank Goldman Sachs alone employed around 5,000 people in the British capital at the beginning of 2010 - initially relocated their top management to Switzerland. The relocation of other higher-income earners was being prepared. Allegedly, the canton of Geneva in particular had purposefully tried to make such relocations to the cosmopolitan city on the Rhône tempting for the bankers. - See recruitment money. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

## Machine-readable

- Generator: Merk Knowledge 1.1.1