Minister prepares legislation on banking code of conduct

Finance minister Jan Kees de Jager is preparing legislation which will make the banking sector’s own code of conduct law from this autumn, if banks do not comply voluntarily by September, the Volkskrant reports.

The minister told MPs on Thursday he is a strong supporter of self-regulation but is prepared to enshrine the code in law, the paper said.
Under the Dutch banking code of conduct, bonuses are not supposed to exceed 100% of basic salary. Bankers are also supposed to take an oath of integrity.

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