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How should you behave? Have you any ethics? Does your boss have?

‘Ethics in Banking and Finance’ – a new online guide launched by UK Finance, the trade body representing the banking and finance industry, in partnership with law firm Linklaters, provides firms and individuals operating in the sector with key reference points for governance, strategy and decision-making informed by ethical principles.

Navigating the ever-expanding landscape of rules, guidance, industry papers, speeches, supervisory practice and lessons learnt from enforcement notices is a complex task, but one that must be undertaken in order for firms to operate their businesses responsibly and successfully.

Designed principally for boards, non-executive directors (NEDs), and senior managers, this online guide provides a series of navigational aids for those working in and advising organisations in the UK banking and finance sector. It brings together key sources and reference documents, as well as profiling approaches that when taken together can be said to provide a broad framework for what constitutes ethics in banking. 

Four themes

The guide is based on four key themes:

  • Leadership, governance, systems and controls:
      • Source & Copyright©2019 - UK Finance
  • Employees:
    • Source & Copyright©2019 - UK Finance
  • Customers and conduct of business:
    • Source & Copyright©2019 - UK Finance
  • Stakeholders, including shareholders, regulators and the wider community:
    • Source & Copyright©2019 - UK Finance



Commenting on the publication of ‘Ethics in Banking and Finance’, Stephen Jones, UK Finance CEO said:

  • “Today, the role of business is under increasing scrutiny. As important as the profit and dividend that a company generates for its shareholders or members is the way in which these returns are generated on behalf of all stakeholders. Understanding the extent to which customers, work colleagues and the communities in which the business operates benefit or are negatively impacted by its performance is increasingly viewed as vital in measuring the impact of its activity. Good conduct, culture and ethical behaviours are at the core of sustainable, long term performance. Whilst relevant for all types of business, these factors are particularly critical for the healthy operation of businesses in banking and finance.
  • “This online resource is intended to help firms and individuals in banking and finance navigate the critical issues businesses face within their daily decision-making. The aim is not to duplicate, let alone interpret, underlying statute, regulatory and market expectations but instead to bring them together in a way that hopefully provides a useful 

CTMfile take: ‘Ethics in Banking and Finance’ provides firms and senior leaders with a reference resource relating to workplace culture, conduct and ethics. Fortunately, it is an online resource which helps navigate the interaction between various aspects of company law, corporate governance, financial regulation and market-based guidance and acts as a useful reference point for boards, non-executive directors (NEDs), and senior managers - the guide is available to download here. 

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This item appears in the following sections:
Best Practices & Benchmarking
Control & Compliance in Operations

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