Saturday, December 8, 2018
The company does not tolerate unethical or inappropriate behavior and also includes a risk management goal in all employees’ performance reviews to ensure that all employees remain focused on and accountable for the ethical and risk implications of their work.
file:///C:/Users/Owner/Downloads/PNC%20Code%20of%20Conduct%20and%20Ethics%202018.pdf
Integrity
We are honest, do the right thing, conduct business with the highest ethical
standards and enable our colleagues to raise concerns.
A Message to All Employees
For more than 160 years, PNC has demonstrated a commitment to performance and
integrity. This commitment has not diminished as we have grown to become a
leading financial services company. Our Values and our Code of Business Conduct
and Ethics serve as our guides to conducting business with the highest integrity and the
highest ethical standards.
or the Corporate Ethics Office at
412-768-8507. You may also report possible violations by calling the PNC Business
Conduct and Ethics Hotline at 1-866-785-9753, where you may choose to remain
anonymous.
Now more than ever, building a great company requires an unwavering commitment
to the highest ethical standards:
Now more than ever, building a great company requires an unwavering commitment
to the highest ethical standards:
> Living Our Values
>
Embracing our Code of Business Conduct and Ethics
Each of us is accountable to do the right thing.
Sincerely,
William S. Demchak
Chairman, President, and
Chief Executive Officer
As you review this Code, remember that our commitment to ethics and compliance rests on the strong foundation of Our Values. Our Values are more than words. They are a reflection of who we are and how we do business. They are the standards we live by and the characteristics by which we want to be known. Living Our Values sets us apart from the competition and demonstrates that we share a unified comm
Violating ... this Code, or encouraging others to do so, exposes PNC to risk, including risk to its reputation, and therefore may result in disciplinary action up to and including termination of employment.
Employee Responsibilities As a PNC employee, you are responsible for understanding and adhering to this Code. > Always act in a professional, honest, and ethical manner when conducting your activities with and on behalf of PNC.
Additional Responsibilities of PNC Leadership If you are in a leadership position at PNC, you have additional responsibilities. > Create a work environment where ethical business conduct is recognized and valued. > Never permit or ask an employee or anyone acting on behalf of PNC to do something that would be prohibited by this Code. > Be a resource for employees. Communicate to employees about how the Code and related policies apply to their daily work. > Serve as a role model for the highest ethical standards and work to create and sustain a culture of Integrity.
> The Corporate Ethics Office Mailbox at Corporate.Ethics.Office@pnc.com
> The Employee Relations Information Center (ERIC) at 1-877-968-7762 > Any representative of the Legal Department Remember: You have an obligation to report any unethical business conduct and any known or suspected violation of the Code of Business Conduct and Ethics or any other PNC policy. An issue cannot be addressed unless it is brought to someone’s attention.
fair dealing:We endeavor to deal fairly with our customers, suppliers, competitors, and employees. All employees are expected to meet these obligations and maintain the highest standards of honesty and integrity.
newpaper test:
As you review this Code, remember that our commitment to ethics and compliance rests on the strong foundation of Our Values. Our Values are more than words. They are a reflection of who we are and how we do business. They are the standards we live by and the characteristics by which we want to be known. Living Our Values sets us apart from the competition and demonstrates that we share a unified comm
Violating ... this Code, or encouraging others to do so, exposes PNC to risk, including risk to its reputation, and therefore may result in disciplinary action up to and including termination of employment.
Employee Responsibilities As a PNC employee, you are responsible for understanding and adhering to this Code. > Always act in a professional, honest, and ethical manner when conducting your activities with and on behalf of PNC.
Additional Responsibilities of PNC Leadership If you are in a leadership position at PNC, you have additional responsibilities. > Create a work environment where ethical business conduct is recognized and valued. > Never permit or ask an employee or anyone acting on behalf of PNC to do something that would be prohibited by this Code. > Be a resource for employees. Communicate to employees about how the Code and related policies apply to their daily work. > Serve as a role model for the highest ethical standards and work to create and sustain a culture of Integrity.
> The Corporate Ethics Office Mailbox at Corporate.Ethics.Office@pnc.com
> The Employee Relations Information Center (ERIC) at 1-877-968-7762 > Any representative of the Legal Department Remember: You have an obligation to report any unethical business conduct and any known or suspected violation of the Code of Business Conduct and Ethics or any other PNC policy. An issue cannot be addressed unless it is brought to someone’s attention.
fair dealing:We endeavor to deal fairly with our customers, suppliers, competitors, and employees. All employees are expected to meet these obligations and maintain the highest standards of honesty and integrity.
newpaper test:
Accolades abounded for PNC Executive Vice President and Special Advisor to the Chairman Sy Holzer, honored with the 2017 Chairman’s Award for his leadership in education, healthcare, community and charitable endeavors during the March 17 American Ireland Funds Gala at Heinz Field.
“There’s no one attending more charity events doing more charity work for more people,” added Pittsburgh Penguins CEODavid Morehouse, who arrived with his wife, Vanessa.
PNC Bank announced in a release that in 2019 it plans to begin offering fully digital business lines of credit, up to $100,000, in an expansion of its online lending to customers and prospects in the United States.
PNC's new digital product brings together one of the nation's largest banks and OnDeck (NYSE: ONDK), which provides the online lending platform. PNC will utilize OnDeck's Platform-as-a-Service (ODX) to simplify and accelerate the conventional lending originations processes for PNC Bank's small and medium-sized business customers.
PNC will combine its extensive product and credit expertise with ODX's online origination technology and professional services to create PNC Small Business Lending, a fully digital, online business credit origination solution.
searching for simpler, easier and quicker means to apply for and receive funding, and to that end, PNC is investing in this new avenue to find solutions that work for them," said Lakhbir Lamba, head of retail lending at PNC Bank in a release. "Our relationship with OnDeck is PNC's first opportunity to leverage the services of a fintech company in a platform-as-a-service model that will make it easier for businesses to borrow from us in order to support their growth."
said Lakhbir Lamba, head of retail lending at PNC Bank in a release
Friday, November 9, 2018
NEW YORK (Reuters) - A group of large institutional investors including BlackRock Inc and Allianz SE’s Pacific Investment Management Co has sued 16 major banks, accusing them of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market.
FILE PHOTO: Barclays' logo is seen on top of one of its branches in Madrid, Spain in this March 22, 2016 photo. REUTERS/Sergio Perez/File Photo
The lawsuit was filed on Wednesday in the U.S. District Court in Manhattan by plaintiffs that decided to “opt out” of similar nationwide litigation that has resulted in $2.31 billion (£1.76 billion) of settlements with 15 of the banks.
Those settlements followed worldwide regulatory probes that have led to more than $10 billion of fines for several banks, and the convictions or indictments of some traders.
The banks being sued are: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, Japan’s MUFG Bank, Royal Bank of Canada, Royal Bank of Scotland, Societe Generale, Standard Chartered and UBS.
Investors typically opt out of litigation when they hope to recover more by suing on their own.
The plaintiffs in Wednesday’s lawsuit accused the banks of violating U.S. antitrust law by conspiring from 2003 to 2013 to rig currency benchmarks including the WM/Reuters Closing Rates for their own benefit by sharing confidential orders and trading positions.
This manipulation was allegedly done through chat rooms with such names as “The Cartel,” “The Mafia” and “The Bandits’ Club,” through tactics with such names as “front running,” “banging the close,” “painting the screen” and “taking out the filth.”
“By colluding to manipulate FX prices, benchmarks, and bid/ask spreads, defendants restrained trade, decreased competition, and artificially increased prices, thereby injuring plaintiffs,” the 221-page complaint said.
Norway’s central bank Norges Bank and the big public pension fund California State Teachers’ Retirement System (CalSTRS) are among the several other named plaintiffs.
Many of the plaintiffs plan to pursue similar litigation in London against many of the bank defendants with respect to trades in Europe, a footnote in the complaint said.
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Accolades abounded for PNC Executive Vice President and Special Advisor to the Chairman Sy Holzer, honored with the 2017 Chairman’s Awa... -
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Sylvan M. Holzer sy Special Adviser to the Chairman, The PNC Financial Services Group, Inc. The Tower at PNC Plaza Pittsburgh,...