Corporate Governance

SEB recognises that maintaining trust among all stakeholders is of paramount importance. The corporate governance structure distributes rights and responsibilities according to applicable laws, rules and processes. Well defined reporting lines and distribution of distinct responsibilities are essential. High ethical and professional standards and a sound risk culture remain vital.

Customers, depositors, employees and many other stakeholders have for a long time put their trust in SEB. Clearly defined roles and responsibilities that are allocated to the shareholders, Board, management and other stakeholders ensure that this trust can be maintained and it prevents conflicts of interest. Corporate governance of good quality is a prerequisite for the work with the Banks's business plan and targets, to ensure a high ethical standard, a sound risk management and internal control.

The external framework that SEB adheres to in its corporate governance includes the following instruments, among other the Companies Act, the Annual Accounts Act, the Nasdaq OMX Stockholm regulations, the Swedish Code of Corporate Governance, the Banking and Financing Business Act and the Rules and regulations issued by the Swedish Financial Supervisory Authority.

The internal framework includes, among other things, the Articles of Association, which have been adopted by the General Meeting of Shareholders. Policies and instructions that have been drawn up to define the division of responsibility within the Group are important tools for the Board and the President and Chief Executive Officer in their governing and controlling roles.

Of special importance are the Rules of Procedure for the Board, the Instructions for the President and the Group's Activities, the Group's Credit Instruction and Risk Policy, the Instruction for Handling of Conflicts of Interest, the Ethics Policy, the Instruction for Procedures Against Money Laundering and Financing of Terrorism, the Remuneration Policy and the Corporate Sustainability Policy.

SEB's ethical and corporate sustainability endeavors are an integral part of the business, and the Board discusses these issues on a regular basis. SEB's Code of Business Conduct describes and lays out SEB's values and standards of business conduct and provides guidance on how to live by these values. Policies and guidelines for sustainability and various Group-wide position statements and industry sector policies addressing environmental, social and governance issues are also of vital importance in this context.