The Dutch Banking Association (NVB) has drawn up the 'Banking Code' on 9 September 2009,
in response to the report ‘Restoring Trust’, which was published by the Advisory Committee on the Future of Banks on 7 April 2009.
The Banking Code contains principles focusing on the Supervisory Board, Executive Board, risk management, audit and remuneration. The Banking Code uses the ‘comply or explain’ principle. Banks shall report every year in their annual report regarding the manner in which they applied the principles of the Banking Code in the previous year, providing a substantiated explanation – where applicable – of why a particular principle may not have been applied, either partly or in full.
As a member of the Dutch Banking Association, UBS Bank (The Netherlands) BV subscribes to the Banking Code and has reported on the manner in which the principles where applied in her annual report. A detailed description per principle can be found on this page.
In addition and in line with the Code, the members of the management committee of UBS Bank (The Netherlands) BV have signed a moral and ethical conduct declaration.
If you require any additional information on the Code and compliance to it, please do not hesitate to contact us.
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