More financial sector staff to take bankers’ oath of integrity

Finance minister Jeroen Dijsselbloem is introducing new legislation which will require all bank workers who have direct contact with clients to swear an oath of integrity.

Since the beginning of this year senior executives and supervisory board members at financial institutions have to take the oath, as part of efforts to improve confidence in the financial sector.

However, Dijsselbloem now wants to extend this to all staff who have contact with clients, and to those whose job could affect the institution’s risk profile, such as brokers.

In addition, the minister wants to extend the central bank’s compulsory check on board members’ expertise and trustworthiness to all staff responsible for risky financial transactions.

The proposals have been put out to online consultation.

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