Banks to be named and shamed for bad behaviour: code of conduct

The new commission responsible for supervising good behaviour in the banking sector will be able to name and shame under-performing banks, according to its new chairman.

Inge Brakman, who was introduced to the Dutch media on Tuesday, said the revised code of conduct and end of anonymity mean the commission will be able to do its work ‘rigorously’.

The revised Dutch banking code of conduct not only includes rules on bonuses, risk policy and supervision, but also softer aspects such as integrity.At the same time, the banker’s oath, introduced in 2013 for top bankers is being broadened out to cover all bank workers.

Brakman said at the new code’s presentation that banks are making a serious effort to restore their relationship with society. Nevertheless, she emphasised that they cannot return to business as usual. ‘Digitalisation means banking has changed for ever,’ she said.

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