NORD/LB Luxembourg Covered Bond Bank has set down clear rules on proper and professional conduct for its employees, for example in the event of conflicts of interest, in the fight against financial crimes such as corruption, fraud and money laundering, for the maintenance of confidentiality and data protection, customer service, the protection and use of Bank resources or protection against discrimination.
NORD/LB Luxembourg Covered Bond Bank has implemented an informer system that can be used by both employees and customers. This includes the function of an external ombudsman whom informers can contact in confidence if they suspect criminal activity or unlawful business transactions.
At NORD/LB Luxembourg Covered Bond Bank Dr. Rainer Buchert from Frankfurt am Main occupies the role of ombudsman. He is a lawyer and is thus subject to a duty of confidentiality and the right to refuse to testify. Even if matters proceed to trial, he must not name the informer. Dr. Buchert has already worked as an ombudsman for other large German companies for many years. For more information see www.dr-buchert.de (in German only).
Our appointment of an ombudsman is in tune with the guidelines of the German Corporate Governance Code and corporate social responsibility. All individual measures are important preconditions for successfully fighting and preventing potential losses arising from fraudulent or otherwise criminal activities.
The CSSF has implemented an Whistleblowing System for “Reporting of breaches of financial sector regulations to the CSSF” on their Webpage https://whistleblowing.apps.cssf.lu/ including relevant FAQs
For more information see the following regulation of CSSF: