The banker’s oath is part of a new disciplinary regime under which bankers demonstrate their personal commitment to acting with integrity and professionalism and to treating their clients honestly and fairly. The regime has been in force since the beginning of the year 2025. The Financial Services and Markets Authority (FSMA) has - to date – administered the oath to more than 500 bankers, who thereby committed themselves to complying with strict ethical rules.
The banker plays an essential role
All citizens must be able to place trust in their banker. Bankers, like other key professionals (physicians, lawyers or judges, for example), play a crucial role in society and like them, are bound by an oath. The banking system is already subject to strict rules. To guarantee their effectiveness and to strengthen consumer confidence, it was important to provide for a regime that also makes it possible to prevent isolated cases of inappropriate forms of behaviour. It was with a view to meeting that need that the banker’s oath was established at the beginning of 2025.
A disciplinary regime that enters into force in stages
The new regime enters into force in two phases. It has applied since the beginning of 2025 for members of senior management, key function-holders and persons holding managerial positions in banks. For the other bankers, its entry into force is planned for the summer of 2026.
Bankers have six months from the entry into force of the regime, or from their taking up their position, to swear the oath.
Senior managers or key function-holders take the oath at the FSMA, while the other banking staff do so before a senior manager of their institution.
“The tone at the top is crucial to guarantee ethical behaviour by bankers”
The FSMA may impose disciplinary sanctions in the event that the rules governing the banker’s oath are not respected, including a prohibition against exercising their profession for a period that may extend up to 3 years.
The FSMA has posted an explanatory video about this regime on its website.
Almost 500 bankers took the oath in the course of 15 sessions held at the FSMA
On 12 June 2025, the 15th oath-taking session since the beginning of the year 2025 was held at the FSMA. Almost 500 bankers have now taken the oath before the Chairman and the Deputy Chairman of the FSMA.
During these sessions, participants were made aware of the new requirements imposed on bankers by means of a questionnaire that provides illustrations of some of the ethical issues that are frequently encountered. The results indicate that the main lines of this new regime are widely known, but that the distribution of individual responsibilities within banks could be better understood.
As from the summer of 2025, the FSMA will hold 3 oath-taking sessions per half-year.
Watch a video recap of the oath-taking sessions here (available in French - Dutch only).