Access to Information and External Advice

Access to Information. The Board needs to have the right information at the right time, so that it can engage deeply on how the business is operating, how the executive team is performing and provide the proper check and balance. The Board has separate and independent access to the Corporate Secretary, who also serves as adviser to the directors on their responsibilities and obligations and oversees the adequate flow of information to the Board prior to meetings. To provide directors with all the information and assistance necessary to prepare for meetings or obtain clarification for any relevant matters, this access to the Corporate Secretary is unhampered, unlimited, and direct.

Our management also ensures adequate flow of information to the Board. This information may include the background or explanatory information relating to matters to be brought before the Board, copies of disclosure statements and related documents, budgets, forecasts and monthly internal financial statements. In this respect, all directors also have access to advice from senior management including C-Suite officers such as the Chief Financial Officer, Chief Audit Executive, Chief Risk Officer, and Chief Compliance Officer.

All directors and board committees also have unrestricted access to company records and information in addition to receipt of regular detailed financial and operational reports from senior management.

External Advice. Considering the increasing complexity of market transactions and rapid rate of change in the regulatory sphere, our board, if so requested by the Chairman or other directors, can call on external specialists or consultants for advice, briefings or assistance on specialized areas of focus such as related party transactions, mergers and acquisitions, valuation, etc. Management can arrange for the internal auditor, management services company or consultants to present to the bank.