National Australia Bank's decision to put all of its bankers through training courses could be the beginning of an industry-wide standard that lifts professionalism and ethical standards.
The Banking and Finance Oath (The BFO) is proud to introduce the 2020 cohort of Young Ambassadors – a Program encouraging and supporting students, graduates and young people to contribute to a strong ethical foundation as they begin their careers in the banking and finance industry.
The Reserve Bank governor Philip Lowe has announced details of this year’s young ambassadors program, which includes seven young leaders in the area of ethics.
The Banking and Finance Oath (The BFO) is proud to introduce the 2020 cohort of Young Ambassadors – a Program encouraging and supporting students, graduates and young people to adopt a strong ethical foundation as they begin their careers in the banking and finance industry.
Judo Bank, an Australian fintech, has become a unicorn after raising $148mn in fresh equity at a post-money valuation of $1bn The raise, the result of ...
The ethics centre's Fiona Smith has pubilshed an article challenging the audience to think about the ethics of practices even if they aren't illegal.
We would recommend all the BFO signatories read this article.
In Parliament on Friday 15 November 2019, Chair of the Standing Committee on Economics, Tim Wilson MP raised the topic of The Banking and Finance Oath.
The Banking and Finance Oath (The BFO) has announced applications are now open for its Young Ambassador Program. The Program encourages and supports students and graduates to adopt a strong ethical foundation as they begin their careers in the banking and finance industry.
MetLife Australia have worked with the The Banking and Finance Oath to encourage other financial services organisations to back lifting ethical standards across the industry, by supporting their employees to take the Oath. MetLife is the first insurer to support The BFO at an organisational level, by encouraging its own staff to take the Oath, as a step towards rebuilding the reputation of the industry.
The head of the Australian Banking Association has called for “tolerance of failure”, “flexibility” in regulatory lending guidance, and a “careful” approach to drafting the best interests duty for brokers to ensure meaningful and sustainable changes are made in the industry post-royal commission.
By Clancy Yeates, SMH Business Reporter
The banking regulator has launched a defence of self-regulation in finance, saying such a system is essential but the industry must lift its game and do "the right thing" by customers, even if it means missing out on business.
The chairman of the competition regulator, Rod Sims, wants the government to create a new law against "unfair trading practices", which would not only allow him to tackle the technology platforms but lift standards in the banking sector.
By Alex Sampson, Banking Daily
Australian banks and their bosses are capable of change. That will be the message at the Banking and Finance Oath conference next month.
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