Introduction – Basic Corporate Governance Rules

Add to my report
Previous chapter | Next chapter

The general corporate governance rules applicable at the Bank, i.e. the system of regulations and procedures defining guidelines for the activities of the Bank's governing bodies, are stipulated in the statutory provisions, including in particular the Commercial Companies Code and the Banking Act, capital market regulations, as well as the rules laid down in the following documents: Code of Banking Ethics of the Polish Bank Association, the Code of Best Practice for WSE Listed Companies, and the UniCredit Integrity Charter.

On October 14, 2014, by way of Resolution No. 356/X/14, the Bank's Management Board adopted for use the Principles of Corporate Governance for Supervised Institutions issued by the Polish Financial Supervision Authority on July 22, 2014. On 5 November 2014, the Bank's Supervisory Board passed Resolution No. 33/14, whereby it provided positive opinion on the adoption of the Principles by the Bank. The Bank will apply the Principles of Corporate Governance for Supervised Institutions starting from January 1, 2015.

As required under the Act on Trading in Financial Instruments of July 29, 2005, the Bank has implemented internal procedures designed to monitor the performance of obligations relating to inside information, ban on transactions in the Bank's instruments during restricted periods, and on disclosing information on transactions in financial instruments connected with securities issued by the Bank made by significant persons related to the Bank.

In order to ensure the stability of the Pekao Group, the Bank coordinates and controls the operations of its subsidiaries through the Bank's representatives in the subsidiaries' governing bodies.