The Banking Standards Board is an independently led body that promotes
high standards of behaviour and competence across the UK banking industry.
Britain’s biggest banks and building society are supporting this initiative.
Success will help restore public trust in this vitally important sector of the economy.
Our upcoming ethnography seminar proving popular, we look forward to discussing culture, behaviour&competence 13 Jul bit.ly/1TJx10a
BSB breakfasts: Professor Martin Elliott--Thu, sep 8, 2016 from 8:15AM to 9:30AM
Diversity in the BoardroomCentral LondonThu, jul 14, 2016 from 6:00PM to 9:00PM
BSB seminar: Using ethnography to learn more about your firm’s culture--Wed, jul 13, 2016 from 10:00AM to 12:00PM
The 2nd Annual Culture and Conduct Forum for the Financial Services Industry--Tue, jul 12, 2016
Competition policy in financial marketsNorwich NR2 4SFFrom thu, jun 9, 2016 to fri, jun 10, 2016
Banking conduct and culture: a call for sustained and comprehensive reformDunster Court, Mincing Lane, London EC3R 7AHWed, may 4, 2016 from 9:30AM to 7:00PM
Breakfast event with author Joris LuyendijkCentral LondonThu, mar 24, 2016 from 8:15AM to 9:45AM
The Future of BankingShangri-La Hotel 10, avenue d'Iéna 75116, Paris, FranceThu, mar 10, 2016 from 9:00AM to 5:30PM
FT Banking Standards ConferencePiccadilly, London W1J 7BXTue, mar 8, 2016 from 8:15AM to 5:15PM
Can you run a successful business ethically?89 Addison Road, London W14 8BZMon, mar 7, 2016 6:30PM
Breakfast event with Sir Martin NareyCentral LondonTue, jan 26, 2016 from 8:15AM to 9:45AM
The BSB’s regional visit to BirminghamBirminghamWed, oct 28, 2015 4:00PM×------
Senior Managers and Certification Regime
The Senior Managers and Certification Regime is a major regulatory change that will affect all banks and building societies. Responding to recommendations by the Parliamentary Commission on Banking Standards, the government and regulators have together developed a comprehensive framework to ensure better accountability and responsibility for behaviour, competence and culture in banks and building societies. The new framework provides an opportunity for the industry to focus on and demonstrate a culture of professionalism. We are working with firms and regulators to facilitate this, including areas where a common approach across firms could support both the objectives of the regime and the skills and development of the people covered by it.
The Parliamentary Commission on Banking Standards found that 'banking culture has all too often been characterised by an absence of any sense of collective responsibility to uphold the reputation of the industry', and argued that a greater focus on professionalism could be an answer to this. Working with a leading team at the University of Leeds, we are researching the issues around professionalism in banking. In particular, we are reviewing how professional qualifications are currently used across the sector, and at whether a stronger role for professional bodies, along the lines seen in some other sectors, like medicine or law, would help raise standards. To inform this work and develop a rounded picture of 'professionalism' and what it means in banking, we are surveying banks and building societies, professional bodies and a wide range of other interested groups, including consumer bodies and investors.
The BSB assessment exercise presents Boards with an objective and impartial view of their firm's culture, identifying where things are working well and recommending areas for improvement. It draws on information not only from Boards and senior teams, but also from employees, investors (or members), trade unions, customer groups and other relevant bodies. In doing so, it will provide constructive challenge to each firm individually, while building a collective understanding of common issues across the industry, or sectors within it. We undertook our first annual assessment exercise in 2015 with ten firms (Barclays, Citi, HSBC Bank, Lloyds Banking Group, Metro Bank, Morgan Stanley International, Nationwide, RBS, Santander UK and Standard Chartered). The BSB itself will not publish individual assessment reports - each firm owns its own report - but key themes and messages will be set out in the BSB's annual report, the first of which will be published in Spring 2016. Given that Board engagement is central to the assessment work, only firms that have their headquarters in the UK are eligible for the full assessment exercise. All firms, including branches of firms headquartered overseas, will however be included in a focused membership-wide survey, which will allow each participating firm to benchmark itself against its peer group.
HAS YOUR BANK FAILED TO RESPOND ADEQUATELY TO A COMPLAINT?
ARE YOU SEEKING GUIDANCE ON YOUR FINANCIAL AFFAIRS?
ARE YOU CONCERNED ABOUT ACTIVITIES CONDUCTED IN YOUR INDUSTRY?
If you work in the financial services industry and are concerned about any activities conducted by your employer or any other firm or individual, you may find the Financial Conduct Authority and the Prudential Regulation Authority's guidelines on whistleblowing helpful. It explains what constitutes whistleblowing, and what procedures are in place to respond to blow the whistle and how your anonymity would be protected. Public Concern at Work, the whistleblowing charity, also offers support and advice to individuals and employers about how to report concerns and how to establish whistleblowing frameworks.