The NatWest Group provides a wide range of financial products and services to customers, from wholesale to retail, through a number of well-known brands.
In Japan, NatWest Markets Securities Japan Limited provides financing and risk management solutions to institutional customers.
With a strong ambition to be the industry leader in customer service, trust and support, we have established a common set of values that underpin the decisions and actions of our employees.
- Serving customers
- Working together
- Doing the right thing
- Thinking long term
We all follow the Group’s own Code of Ethics (Our Code) which details the various standards that all employees must work towards. The Code also includes "yes check," a framework on which decision-making is based. We believe that in doing the right thing, employees contribute to the development of trust and value between us and our customers, which in turn means that each of our employees becomes proud of their own organisation.
The key elements of Our Code are aligned with the Financial Services Agency's Fiduciary Principles (Customer-Oriented Business Conduct Policy).
- Our ambitions are focused on better serving our customers and earning their trust. The value, standards, and guidelines described in the Our Code are consistent for all employees.
- To serve our customers, we strive to build trust by acting with courtesy, perspective, honesty and transparency, and communicating openly and clearly.
- When we build prices or offer them to customers, we ensure that they are fair, reasonable, justified, transparent, and consistent with the prices of other products in line with our pricing policies.
- Our employees act from the customer's perspective when structuring, selling, or reviewing products. In accordance with our suitability policy, we provide products and services that are appropriate for customers’ size, characteristics, financial position, and business nature and purpose.
- We have clearly established policies and procedures for managing conflicts of interest, and the Japan-specific regulations are published on our website to provide better services to our customers.
- The Individual Accountability Regime (IAR) in Our Code clearly states that each employee is responsible for fulfilling their respective roles in achieving the ambition of customer-oriented operations. In addition, "Speak Up" is a whistleblowing system that allows employees to secretly report concerns about behaviour that’s not in line with our purpose, vision or values.
NatWest Markets Securities Japan Limited is committed to the highest standards of corporate governance, integrity and professionalism in everything we do. We’ve developed a broad governance and management framework, examples of which can be found in Our Code, available here:.
NatWest Group Code of Conduct PDF (628 KB)
Our progress and KPIs
We’ve established measures to assess how customer-oriented services improve based on the Code of Conduct. Their progress and KPIs are as follows:
1) We will establish management committees within the company to discuss various issues in accordance with the constitution.
Progress and KPIs: Reports from perspectives are made and discussed in each monthly committee meeting.
2) When structuring and developing new products, we will establish internal approval procedures that are common to the Group so that we meet the needs of our customers.
Progress and KPIs: We respond to individual new transactions and make changes in accordance with approval procedures and in cooperation with the global community.
3) When selling structured bonds, etc. through a third-party distributor, we will conduct regular due diligence on the distributor.
Progress and KPIs: We have started selling structured bonds and are carrying out necessary due diligence.
4) We conduct internal training to foster shared employee values about ethical standards and our values.
Progress and KPIs: We carry out training on ethics and other necessary subjects once a year, in addition to training for sales staff.
5) We review internal rules once a year to confirm that customer-oriented business operations are being conducted.
Progress and KPIs: By December 2019, we had reviewed and confirmed all internal rules. From 2020, we’ll conduct a review once a year.
6) Twice a year, we conduct a survey of employees called Our View, to incorporate their opinions to help them take pride in their organisation.
Progress and KPIs: We plan to continue to conduct Our View on a regular basis.
7) We will establish a clear process for handling customer complaints in Japan and within the wider Group, and we’ll strive to gain the trust of our customers.
Progress and KPIs: In accordance with our complaint handling procedure, we always respect the position of our customers when handling complaints and strive to resolve them promptly, sincerely, and fairlyWe will also refer to the cases of other companies whose business is similar to us and have the opportunity to learn from their complaints.