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Corporate Governance Reports
Until 1 October 2018, Nordea Bank AB (publ) has on an annual basis produced its Corporate Governance reports according to the Swedish Annual Accounts Act, the Companies Act and the Code of Corporate Governance. These reports are presented below.
As from 1 October 2018, Nordea Bank Abp has produced the Corporate Governance Statements in accordance with the Finnish Act on Credit Insitutions, Finnish Accounting Act, Finnish Securities Markets Act, Ministry of Finance Decree on the obligation of securities issuers to disclose periodic information and the Finnish Corporate Governance Code. All key corporate governance related information can be found on this nordea.com website.
Composition and diversity policy
The Board of Directors consists of ten members elected by the General Meeting. In addition three members and one deputy member are appointed by the employees, as agreed in accordance with the applicable law and regulations. The President and CEO of Nordea is not a member of the Board.
The Finnish Act on Credit Institutions requires that the Board of Directors has adequate and versatile knowledge and experience in respect of its tasks on the business activities and related risks of the credit institution. Further, the Board of Directors shall approve for the credit institution operating principles to advance the versatility of the Board composition. The Board of Directors shall approve an objective of equal representation of the genders in the Board of Directors for the credit institution and prepare operating principles by which this objective can be achieved and maintained.
Insider administration
Insider administration is organised according to the applicable European Union and local laws and regulations. The Board has also approved groupwide rules to facilitate employees compliance with the applicable rules and to ensure that inside information is identified as such and treated appropriately.
The Company has identified members of the Board and GLT as well as the Chief Audit Executive as persons discharging managerial responsibilities (as defined in the EU Market Abuse Regulation No 596/2014 (MAR)) who, along with persons closely associated with them, are required to notify the Company and the relevant financial supervisory authority of their transactions in the financial instruments issued by Nordea. The Company publishes such transactions through stock exchange releases.
Here you can find Nordea s other regulatorily required disclosures
These include country-by-country reporting, country-specific pension plans, G-SIB/G-SII: Systematic importance indicators, Individual solvency needs and intragroup exemptions from margin requirements. Explore this category Country-by-country reporting Nordea presents its country by country reporting as required under the Finnish Act on Credit Institutions. Read more G-SIB/G-SII: Systematic importance indicators Indicators based on the Basel Committee methodology for assessing the systemic importance of Global Systemically Important Banks (G-SIBs). Read more Individual solvency need Interim disclosure Intragroup exemptions from margin requirements Nordea Bank Abp and certain of its subsidiaries disclose information on the application of exemptions from the requirement to post margin in relation to OTC derivative contracts.