Code of Conduct for bankers

Code of Conduct for bankers takes effect in the Netherlands

Interim - Chairwoman of the Foundation for Banking Ethics Enforcement, Nicolet Jager, sounds the gong and symbolically introduces the new code of ethics in the financial sector.

Dutch banks find it important that all bank employees act with integrity. Therefore, the code of conduct for bankers is created. The new and mandatory code of conduct for bankers will come into effect on April 1. As of that day, approximately 90,000 bank employees in the Netherlands are obliged to take the Bankers’ Oath, binding themselves to an ethical code of conduct and submitting themselves to disciplinary action should they break it.

The Foundation for Banking Ethics Enforcement has been established to oversee that those who have taken the oath abide by the associated code of conduct. The foundation can impose sanctions ranging from a reprimand to an employment suspension of up to three years. Self-regulation organization DSI has been asked to provide assistance to the foundation.

For more information: www.tuchtrechtbanken.nl

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