1. 1. When applying forrequesting prior approval pursuantas referred to in Article 4(5)6(3) of Delegated Regulation (EU) No2021/923 604/2014in forrespect of a staff member who was awarded a total remuneration of EUR 1 000 000 or more in or for the preceding financial year, supervised credit institutions shall submit the following documentation to the ECB in order to substantiate the exceptional circumstances referred to in Article 4(5)6(4) of Delegated Regulation (EU) No 604/2014:2021/923:
(a)((a)) a detailed description of the exceptional circumstances linked to the professional activity of the relevant staff member and their impact on the risk profile of the supervised credit institution. A highly competitive situation shall not be considered an exceptional circumstance;
(b)((b)) a detailed description of any exceptional circumstances linked to the remuneration of the relevant staff member that explains why the supervised credit institution awarded the staff member a remuneration of EUR 1 000 000 or more, even though the staff member reportedly does not have a material impact on the risk profile of the supervised credit institution.
2. 2. The ECB may require the supervised credit institution to submit further information to substantiate the application.