Clearstream Group Committees
Audit, Compliance and Risk Management Committee
The Audit, Compliance and Risk Management Committee (ACRC) of Clearstream Banking S.A. (CBL) covers all areas where risk might occur. At least once a year, the ACRC reviews a compliance status report obtained from executive management. Reporting directly to the CBL Board of Directors (BoD), the ACRC is composed of CBL board members and external members appointed by the CBL BoD. The Chief Internal Auditor and the External Auditor attend the meetings at the request of the chairman of the committee. The CEO may attend as a guest. The ACRC reviews the Company's financial statements and makes recommendations to the BoD, approves annually the internal audit functions, objectives, the audit plan, staffing and financial budgets, ensures true and proper accounting and reporting of financial results, oversees the proper financial management of the Clearstream group, reviews the adequacy and effectiveness of accounting systems and internal financial controls, monitors the efficiency and independence of the internal audit function and meets regularly with the external auditor.
CI Board (CI Advisory Board)
The Clearstream International S.A. (CI) Board's main tasks and competencies are to provide, in the areas of expertise of its members, the CI BoD with advice and recommendations on any matter of relevance for the Company. The CI Advisory Board meets three times per year and the members of the CI Board are appointed for a duration of three years. The appointment may be renewed without limit for successive periods of three years each.
CBF Advisory Board
Clearstream Banking AG (CBF) follows a proactive approach towards its customers by hosting an user advisory board on a quarterly basis, the domestic user group which meets 2- 4 times a year and if required a user task force taking care of ad hoc topics.
Customer Consultation Committee
The Customer Consultation Committee (CCC) is a forum for topics with strategic relevance for CBL and its customers to anticipate and understand the needs and expectations of the CBL customer base even better. Subject matters discussed at the CCC are usually related to CBL and marketwide initiatives, their development and potential impact on the market landscape and its various players. Some of the CBL's customers are permanently represented at the CCC, which meets twice a year.