How to Behave Like a Good Banker?

Abstract

In April 2015, as a means for improving the integrity of the banking sector, The Netherlands adopted a Disciplinary Law for bankers. In this article, the authors discuss the Banker’s Oath by which bank employees are bound to the disciplinary law, the disciplinary procedures and sanctions that can be imposed, which acts of bankers do and do not fall within the scope of the disciplinary law, conflicts of interest that may exist between bank employee and the bank that employs, the question whether banks that notify an employee must or must not anonimise files that they provide to the disciplinary committee, the limited transparency of decisions of the Disciplinary Committee, whether accused bank employees have a right to a fair trial, and the independence and impartiality of the Disciplinary Committee. We also discuss a selection of cases that have been brought before the Disciplinary Committee.The Dutch example of a banker’s disciplinary law will be followed by Belgium. The authors compare the Belgian draft bill for a banker’s disciplinary law with the Dutch system.