Corporate Governance Codes
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The Dutch Corporate Governance Code
The Dutch Corporate Governance Code 2016 applies to listed
companies and contains principles and best practice provisions
for what is generally regarded as good corporate governance.
Because of its cooperative structure, Rabobank is not required to
comply with the Dutch Corporate Governance Code, it has
nevertheless, committed itself to comply to the code as much as
possible. Rabobank departs from the code on just a few points,
partly due to its cooperative structure. Please refer to
www.rabobank.com for an overview.
The Dutch Banking Code
In 2009 the Dutch Banking Association adopted the Banking Code
for Dutch banks in orderto regain the public'strust in the banking
sector. The Banking Code aims to ensure stable, service-oriented
and reliable banks for stakeholders by setting out principles of
conduct for Dutch banks in terms of corporate governance, risk
management, audit and remuneration. The Banking Code took
effect on January 1,2010 on a 'comply or explain' basis.
In 2013, the Committee on the Structure of Dutch Banks (the
'Wijffels Committee') laid significant foundations for the further
strengthening of Dutch banks.The committee published a report
focused on the stability of the banking industry and the
importance of competition and diversity in Dutch banking. The
committee also called on banks to set out the role they wish to
play in society.
Following this recommendation, the Dutch Banking Association
introduced a Social Charter, which includes an updated Banking
Code, and implemented a ban kers'oath (with the associated rules
of conduct and a disciplinary system). By taking these actions,
Dutch banks, including Rabobank, want to demonstrate what
they stand for and what they want to be held accountable for in
the ongoing renewal process as individual banks and as an
industry at the heart of the community. The Social Charter, the
Banking Code 2015 and the rules of conduct associated with the
bankers' oath together form a package called 'Future oriented
Banking'. Rabobank has endorsed the package. For further
information about Rabobank's compliance with the Banking
Code 2015, please refer to www.rabobank.com.
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