How to Behave Like a Good Banker?: The Dutch Banker’s Oath and the Dutch Banking Disciplinary Committee

Laaper Peter () and Busch Danny
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Laaper Peter: Dr. MSc. Peter Laaper is Assistant Professor of Financial and Private Law at Utrecht University School of Law and advisor at Keijser Van der Velden Advocaten, NijmegenNetherlands
Busch Danny: Professor Dr. Danny Busch, M.Jur. (Oxon.) is Chair in Financial Law and founding Director of the Financial Law Centre (FLC), which is part of the Radboud Business Law Institute of Radboud University, Nijmegen. He is also Research Fellow at Harris Manchester College, Fellow at the Commercial Law Centre, University of Oxford, and Visiting Professor at the Université de Nice Côte d’Azur and Università Cattolica del Sacro Cuore di Milano. He is a member of the Dutch Appeals Committee of the Financial Services Complaints Tribunal (KiFiD). He was a member of the Dutch Banking Disciplinary Committee from 2015–2020.Netherlands

European Company and Financial Law Review, 2021, vol. 18, issue 6, 899-947

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.

Date: 2021
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DOI: 10.1515/ecfr-2021-0037

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