John Laker, Chair of The Banking and Finance Oath thinks that not signing The BFO is a missed opportunity for banking and finance executives to act as role models for ethical behaviour.
Tony Boyd identifies an adoption of The Banking and Finance Oath (BFO) across the sector as "a major step forward"
Dr Ken Henry delivered the key note speech at the 2016 AFR Wealth Summit with a strong focus on ethics, culture and conduct.
As banks face growing political pressure over misconduct in the industry, former regulator John Laker says more bank bosses could send a clear public signal on ethics by signing The Banking and Finance Oath.
Dr Simon Longstaff and Dennis Gentilin collaborate and imagine what would happen if leaders in the industry put aside commercial (and even personal) rivalries to join together for the common purpose of restoring the industry's integrity.
Should there be a royal commission into the banking and finance industry? Dr Simon Longstaff, Executive Director of The Ethics Centre and a member of The BFO, doesn't think so.
Australia's banks are eight years behind the rest of the world when it comes to examining an inherent conflict at the heart of banking: the fair treatment of customers and the maximisation of profit.
National Australia Bank chairman Ken Henry wants boards to take more responsibility for the ethical behaviour of their companies' employees, protect whistleblowers and their customers more and accept media criticism.
In the wake of the CommInsure scandal, Dr Simon Longstaff explains how corporations should respond to an ethical crisis and explains what the ethical life of a corporation demands.
Most companies, including banks, have some sort of code of conduct for its employees. Signatories of The BFO make their pledge public and unlike corporate codes on a piece of paper - The BFO does carry extra weight.
Competition may be crucial to the health of the banking and finance industry, but it shouldn't come at the expense of ethical behaviour.
Thursday 10 December 2015
Andrew Thorburn, CEO of NAB has chosen to take The Banking and Finance Oath
John Laker, the former chairman of the Australian Prudential Regulation Authority, says public confidence in banks would be enhanced if industry leaders committed to ethical standards by signing up to the Banking and Finance Oath.
The Banking and Finance Oath (BFO) has announced that four high profile industry leaders have joined The BFO Board, indicating how seriously this initiative is being taken.
Clare Payne's unique focus on banking and finance ethics has helped her win Money Management and Super Review's Industry Advocacy Award
The Banking and Finance Oath (BFO) has appointed a chairman and three new board members, following AMP Capital's Stephen Dunne's retirement from the industry.
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