Sustainable conduct – both commercially and socially – is a key element of DVB's corporate culture. DVB defines “Compliance” as adherence to the law and the Company's Memorandum and Articles of Association, as well as compliance with internal rules and regulations and voluntary obligations. To ensure a highly professional, uniform and exemplary standard of conduct throughout the Company, the Board of Managing Directors developed a Code of Conduct at the beginning of 2010 (Executive Summary of DVB's Code of Conduct as at 13 April 2010).
Compliance within the DVB Group has a centralised structure. The scope of the function includes – but is not limited to – money laundering prevention, prevention of market abuse/manipulation and corruption, data protection, conflicts of interest, and compliance with the Markets in Financial Instruments Directive (MiFid).
Compliance staff has been appointed in each of the Bank’s locations, directly reporting in this capacity to the Head of Compliance. Where possible, automated monitoring systems have been implemented, which ensure that any potential breaches are automatically alerted to the central function in Frankfurt/Main. Local Compliance Officers ensure that local laws are complied with and that applicable Group policies are implemented. The Head of Compliance reports directly to the Chairman of the Board of Managing Directors and apprises the Board of the status of the program on a regular basis. Additionally, the Supervisory Board receives an update on an annual basis.