entire - Deutsche Bank Annual Report 2012

Deutsche Bank
Annual Review 2010
Report of the Supervisory Board
As resolved in October 2009, effi ciency reviews on the basis of company-specifi c
questionnaires were carried out in spring 2010, not only for the Supervisory Board
as a whole, but also for the Chairman’s, Audit and Risk Committees, and the results
were presented and discussed in detail at the subsequent meetings. We are of the
opinion that the work of the Supervisory Board is carried out effi ciently and that
a high stan dard was achieved in this context. Suggestions and measures that had
been recommended in the previous review of the Supervisory Board’s effi ciency were
eff ectively implemented and led to a further increase in the effi ciency of the work
of the Supervisory Board and its committees. In addition, initial suggestions from the
effi ciency reviews were already implemented in 2010.
We determined that the Supervisory Board has what we consider to be an adequate
number of independent members. We also determined that all members of the Audit
Committee are independent as defi ned by the implementation rules of the Securities
and Exchange Commission ( SEC ) issued pursuant to Section 407 of the Sarbanes-
Oxley Act of 2002. Dr. Börsig and Dr. Eick were named as Audit Committee fi nancial
experts in accordance with the regulations of the SEC as well as Sections 107 ( 4 ) and
100 ( 5 ) of the German Stock Corporation Act (AktG).
The Declaration of Conformity pursuant to Section 161 of the German Stock Corporation
Act (AktG), last issued by the Supervisory Board and Management Board in
October 2009 and updated in January 2010, was reissued at the meeting of the Supervisory
Board on October 27, 2010. Deutsche Bank AG complies, without exception,
with all of the recommendations in the version of the Code dated May 26, 2010.
A com prehensive presentation of the bank’s corporate governance, including the
text of the Declaration of Conformity issued on October 27, 2010, can be found in the
Financial Report 2010 on pages 375 ff . and on our Internet website at http: // www.
deutsche-bank.com / ir / en / content / corporate_governance.htm. The terms of reference
for the Supervisory Board and its committees as well as for the Management
Board are also published there, each in their currently applicable versions.
Training and Further Education Measures
Members of the Supervisory Board completed the training and further education
mea sures required for their tasks on their own. Deutsche Bank provided the appropriate
support to them in this context. New members joining the Supervisory Board in
2010 were given orientation individually tailored to their levels of knowledge, a package
of information material and opportunities for internal and external training, which
were widely used. All of the members of the Supervisory Board were informed of
the legal basis of the Supervisory Board’s work as part of a workshop carried out by
an external attorney. Furthermore, another external attorney spoke to them on the
Supervisory Board’s responsibilities and task. During the reporting year, two internal
workshops were held for members of the Risk Committee on issues relating to credit,
market and operational risks as well as the economic capital model ( ICAAP ). Together
with staff members of the Finance department and the auditor, the Audit Committee
members discussed the new regulations on accounting and fi nancial reporting. In
addition, members of the Supervisory Board were informed of new developments in
corporate governance.
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