Corporate Governance

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Corporate Governance

UOB is committed to upholding good corporate governance. In this regard, UOB is guided by the prevailing regulations, notices, rules and guidelines issued by the Monetary Authority of Singapore and Singapore Exchange Securities Trading Limited. More information on UOB’s corporate governance can be found in the UOB annual report.

Board responsibilities

The key responsibilities of the Board are to:

  • provide strategic direction;
• provide entrepreneurial leadership and guidance;
• approve business plans and annual budgets;
• ensure true and fair financial statements;
• monitor financial performance;
• determine capital/debt structure;
• set dividend policy and declare dividends;
• approve major acquisitions and divestments;
• review risk management framework and processes;
• oversee the performance of Management;
• set company values and standards; and
• perform succession planning.

The Board has established five Board Committees to perform certain duties. They are the Audit Committee, Board Risk Management Committee, Executive Committee, Nominating Committee and Remuneration Committee.

Board Committees

Annual General Meeting

AGM held on 24 April 2015:

  • Directors present
      - Wee Cho Yaw
      - Hsieh Fu Hua
      - Wee Ee Cheong
      - Wong Meng Meng
      - Franklin Leo Lavin
      - Willie Cheng Jue Hiang
      - James Koh Cher Siang
      - Ong Yew Huat
      - Lim Hwee Hua
Notice of AGM
CEO's presentation slides
Results of AGM


Whistle-blowing policy

The Bank has a whistle-blowing policy which provides for any individual to report in good faith, without fear of reprisal, any suspected wrongdoing to the Head of Group Audit, Chairman of the Audit Committee, Group CEO or Chairman of the Board. All reports received are accorded confidentiality and investigated. The Audit Committee receives whistle-blowing reports from Group Audit which administers the policy.

Code of conduct

The UOB Code of Conduct (Code) lays down the fundamental principles of personal and professional conduct expected of all employees in the UOB Group.

The Code covers aspects of the Bank's operations, including the following:


fair dealing in the conduct of business;
confidentiality of customers’ information;
protection of employees’ and business associates' personal data;
equal opportunities for employees on the basis of merit;
non-tolerance of discrimination or harassment in the workplace or cyberspace; and
zero tolerance of bribery, corruption and illegal or unethical dealings, including insider trading.

All employees must observe the Code, and any employee who compromises or violates the provisions of the Code will be subject to disciplinary action.

Employees must also abide by all other codes or standards of conduct applicable in the country of operation.

Securities dealing

Directors and employees are guided by a code which prohibits dealings in securities:

on short-term considerations;
during the period commencing two weeks before the announcement of the Bank's financial statements for each of the first three quarters of the financial year and one month before the announcement of the Bank's full year financial statements; and
whenever they are in possession of price sensitive information.

Investor relations policy

The Bank has an investor relations policy that governs its approach towards communicating with the investment community. It seeks to promote regular, effective and fair communication with shareholders, investors, shareholders’ proxy voting agencies, equity and fixed-income analysts and credit rating agencies. It also stipulates the disclosure of pertinent information via SGXNet and the UOB website on a fair, clear and timely basis.
   
In 2014, the Investor Relations unit met close to 600 analysts and investors, and shared with them the UOB Group's corporate strategy, operational performance and business outlook. The unit also participated in investor conferences and roadshows in Australia, Europe, Hong Kong, Japan, Singapore and the US. In September, a Corporate Day event was held in Kuala Lumpur for 40 analysts and investors. Investor interest in UOB is high with more than 20 brokerage firms globally providing research coverage.
   
Shareholders may also provide feedback through the Investor Relations unit, at the following address:
   
80 Raffles Place
#05-00 UOB Plaza 2
Singapore 048624
Fax : (65) 65380270
Email : InvestorRelations@UOBGroup.com