The integrity of any business relies heavily on the ethical behaviour of those who operate within it. This is not different in banking. Adjusting to the shifts in culture and ethics within the EU banking sector calls for a holistic strategy aligned with the regulatory expectations and the values upheld by society. While considerable efforts have been made by financial regulators to instil a balanced ethical culture in the sector, it is undisputed that the industry also has a vital role to play.
It is helpful to examine examples such as the Dutch Bankers’ Oath1 to understand the growing trend within the industry towards self-regulation and independent ethical initiatives. This article uses the Dutch context as a case study, explores other industry-led initiatives across Europe, and highlights the foreseeable cultural and ethical concerns the industry is expected to navigate.Â
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