- Regulation of banks — Investment business
This chapter discusses the Dutch banker’s oath and the Dutch Banking Disciplinary Committee. The great financial crisis severely damaged trust in the banking sector and raised doubts about the conduct and culture of bankers. Against this backdrop, the Board of the Dutch Banking Society (Nederlandse Vereniging van Banken or NVB) appointed the Advisory Committee on the Future of Banks (the Maas Committee) in November 2008. One of the committee’s recommendations aimed at restoring trust and confidence in the Dutch banking sector was to introduce a moral and ethical declaration for bank directors and certain other groups of employees. The idea of a banker’s oath was thus born. To enforce compliance with the banker’s oath, the NVB established the independent Foundation for Banking Ethics Enforcement (Stichting Tuchtrecht Banken, FBEE). The FBEE has set up the world’s first statutory disciplinary board for the banking sector, the Dutch Banking Disciplinary Committee.