From the Ethics Centre - If its not illegal, should you stop it?

Tuesday 4 February 2020
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.

Oath! It's Friday

Friday 15 November 2019
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 BFO invites future leaders in financial services to be ambassadors for ethics

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.

The Banking and Finance Oath and MetLife encourage industry to rebuild trust

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.

Bankers: take the Banking and Finance Oath

By Alan Kohler
In this article, The Australian's Alan Kohler questions why in a financial services industry of 400,000 people, less than one percent have taken the Oath, presenting a great case for why there really is no excuse for not supporting this important ethics initiative. John Laker (pictured) is Banking and Finance Oath chairman. Photo: Adam Yip

ABA chief calls for 'tolerance of failure'

By By Tas Bindi, The Adviser
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.

Bank watchdog wants self-regulation 'revived' not written off

Friday 9 August 2019
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.

'Lousy ethics': Sims vows to outlaw 'first mover' excuse

Friday 9 August 2019
by By James Eyers, Senior Reporter, AFR
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.

Oath speakers believe banks can change

Tuesday 30 July 2019
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.

The Banking and Finance Oath launches first ever ad campaign

Monday 1 April 2019
For the very first time, The Banking and Finance Oath (The BFO) is undertaking an advertising campaign using the Australian Financial Review (AFR) as its media channel of choice to target professionals working in the banking and finance industry.

"Employees under pressure": The BFO's Cris Parker at the AFR Summit

Friday 29 March 2019
At the AFR Summit this week on a panel looking at 'The challenge of re-establishing trust' with Colin Neave AM, ANZ, Deen Sanders OAM, Deloitte, and Mike Baird, NAB, Cris Parker brought the employees of a post-Hayne era sharply in to focus, encouraging organisations not to lose sight of their most important asset.

Broker Magazine: Trust is the Foundation of my profession

Friday 8 February 2019
By Jodi O'Callaghan, Executive Officer, The BFO: 'Trust is the foundation of my profession'. These are the powerful opening words of The Banking and Finance Oath (The BFO) and for finance professionals, they're words you want to be able to say with pride. But how do those words translate when trust is top of mind for customers, given some of the abhorrent cases being revealed in the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

Who is NAB's acting CEO Philip Chronican?

Friday 8 February 2019
Photo courtesy of AFR. By Jemima Whyte: Phil Chronican, veteran banker, All Blacks supporter, keen cyclist and acting National Australia Bank chief executive, demurred this week when asked if he wanted to be the bank's chairman.

Banking royal commission: Hayne will make culture check as common as the audit

Thursday 7 February 2019
By Fahmi Hosain: Much of the initial reaction to Commissioner Kenneth Hayne's final report has been that it is lighter than expected.

RC puts onus back on individual: BFO

Thursday 7 February 2019
By Anastasia Santoreneos: While industry codes of ethics will play a pivotal role in keeping financial institutions in line, the Board of Banking and Finance Oath (BFO) says the Royal Commission has placed the real onus back on the individual to practice ethical decision-making and accountability.

Banking royal commission: The world of loopholes has ended

Wednesday 6 February 2019
Perhaps The Banking and Finance Oath was an initiative developed ahead of it's time. But the date of Monday 4 February 2019 has drawn a very clear line in the sand. Dr Simon Longstaff explains why now is the time for individuals working in financial services to take the Oath.

Royal Commission highlights importance of individual accountability

Wednesday 6 February 2019
The Board of The Banking and Finance Oath (The BFO) welcomes Commissioner Hayne's focus on honesty and individual accountability in the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

Banking royal commission: Can Commissioner Kenneth Hayne solve the culture conundrum?

Monday 4 February 2019
Illustration by David Rowe: In the AFR's Chanticleer column this week, James Thomson poses a pointy question and puts the focus on culture and individual accountability: Can Commissioner Kenneth Hayne solve the culture conundrum?

More compliance won't solve the advice woes: think tank

The issues likely to be at the core of the Hayne royal commission final report will not be properly addressed by simply ramping up compliance, according to a think tank.

Clubby directors in 'bubble of sweet content' have no understanding of customers

Wednesday 5 December 2018
By Sally Patten: A tendency for directors to lead privileged lives contributes to poor oversight of companies because board members lack empathy with customers, a senior academic argues. Rosemary Sainty, scholarly teaching fellow atUTSBusiness School, said that while greater gender balance at board level was important, boards needed more directors from different cultural, socio-economic and disciplinary backgrounds.
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The Oath

  • Trust is the foundation of my profession.
  • I will serve all interests in good faith.
  • I will compete with honour.
  • I will pursue my ends with ethical restraint.
  • I will help create a sustainable future.
  • I will help create a more just society.
  • I will speak out against wrongdoing and support others who do the same.
  • I will accept responsibility for my actions.

In these and all other matters;
My word is my bond.

The Vision

A banking and finance industry that meets the community’s needs and has its full confidence thereby fulfilling its integral role in society.