Independence, conflicts of interest, governance
All members of the Supervisory Board are independent, as required by the Corporate Governance Code.
No direct, indirect or formal conflicts of interest were identified in 2011.
FMO has specific regulations concerning private investments. Compliance by Supervisory Board members, Management Board members and all other employees with FMO's regulations on private investments is addressed regularly. Based on the information provided by the members, no conflicts with regard to private investments were found.
FMO complies with the Dutch Banking Code and Corporate Governance Code. These were discussed by the Supervisory Board in 2011, and it was found that FMO has a high rate of compliance Where FMO does not comply with these codes, it explains its reasons. For more information, see the Corporate Governance section.