The Swedish Code of Corporate Governance

As of 1 July 2008, The Swedish Corporate Governance Code is applicable to all Swedish companies whose shares are traded on for example NASDAQ OMX, Stockholm. The Code forms part of the system of self-regulation and aims to improve the corporate governance. The code is based on the principle “comply or explain”. It acts as a complement to the Swedish Companies Act and other regulations by specifying a norm for what is generally regarded as good corporate governance at a higher level of ambition than the statutory regulation.
Good corporate governance entails that companies are run in the best interests of their owners. This builds confidence in companies among the general public as well as among the actors on the Swedish and international capital markets, which in turn creates better conditions for the supply of risk capital.
Swedbank’s Board of Directors annually lays down the overall principles of corporate governance within the bank. No deviations during 2010 have been made from the provisions of the Code.