Permanent changes in the real estate and financial markets require continuous monitoring of the market, operational, financial and regulatory risks in order to safeguard the results and financial situation of Intervest.
The Intervest board of directors consistently keeps factors for which Intervest is at risk within its field of focus.
The ‘Risk factors and internal monitoring and risk management systems in the Annual Report describes the main risks with which Intervest could be potentially faced. The risk is first identified along with its potential impact on the Intervest activity that might emerge as a result of the risk coming to fruition, followed by the measures that Intervest shall take in order to limit and control the potential negative impact of these risks.
Corporate governance charter
Corporate governance as such is an important instrument for the ongoing improvement of management of the regulated real estate company and for the safeguarding of the shareholders’ interest.
Intervest applies the 2009 Belgian corporate governance code as a reference code and applies the act of 6 April 2010 amending the Companies Code. Intervest’s board of directors has laid down corporate governance principles in a number of guidelines.
The terms of the 2009 Belgian corporate governance code may only be deviated from when specific circumstances require it. If such an event occurs, the deviation is explained, in accordance with the ‘comply or explain’ principle.
On 3 July 2016, EU Regulation No.596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and repealing Directive 2003/6/EC of the European Parliament and of the Council Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (hereinafter referred to as the “Market Abuse Regulation” or “MAR”) entered into force. Under the act of 27 June 2016, which includes the partial implementation of the Market Abuse Regulation, the act of 2 August 2002 on the monitoring of the financial sector and financial services was also amended. The FSMA publishes these notifications on its website. Intervest has drawn up a policy in this regard.
Transactions must be reported using the online application created by the FSMA.
Code of conduct
Intervest has drawn up a code of conduct applicable to all employees, to include members of the management committee, audit committee and members of the board of directors.
The code of conduct also applies to temporary employees and persons working for Intervest on a contractual basis.
Procedure for reporting irregularities
Intervest has introduced a procedure for reporting irregularities. This procedure protects employees and business partners who report intracompany abuses.
Conflicts of interest
As far as the prevention of conflicts of interest is concerned, the company is subject to statutory rules (articles 523 and 524 of the Companies Code and articles 36 to 38 of the RREC Act) and to the rules set out in its articles of association and its Corporate Governance Charter.
In this regard, Article 17 of the articles of association of the company states the following: “The directors, the persons charged with day-to-day management and the authorised agents of the company will respect the rules relating to conflicts of interests, as provided for by articles 36, 37 and 38 of the RREC Act and by the Belgian Companies Code as they may be amended.”