Acting in Accordance with the Code

To accept the direct reports from all individuals in case of his or her difficulty to discuss the issues with one's superior or the issues can not be resolved through such discussion, the Pioneer Group has the internal reporting system: Business Ethics Hotline. The company protects the anonymity of individuals reporting issues and ensures that such informants are not subject to harassment or retaliation. Individuals engaging in harassment or retribution against informants are dealt with severely and subject to punitive measures, including dismissal.