Dr. Matthias Umlauf
For HCOB, sustainable corporate governance goes far beyond compliance with laws and regulations. Since 2005, the bank has voluntarily recognized the. According to this code, the Board of Management and the Supervisory Board are obliged to report annually on the corporate governance of the company in the annual report. According to Section 161 of the German Stock Corporation Act, the Board of Management and Supervisory Board of a listed company must declare each year that the recommendations of the GCGC have been and are being complied with - or which recommendations are not being applied. As an unlisted company, HCOB issues this declaration of compliance voluntarily.
With its, the bank has developed a central orientation framework for its staff, which summarizes the main rules. In addition to the classic compliance rules, including those for the prevention of money laundering, sanctions, terrorism and other criminal acts, this framework includes clear rules for conduct in the areas of taxes, finance, risk management, information security, data protection and communication. The bank does not tolerate any violations of the law and consistently sanctions such misconduct. Internal units have been set up within the Bank for the reporting of violations. In addition, we have an external whistleblowing unit to which reports can be submitted anonymously.