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Dutch Banking Disciplinary Foundation Winds Down After Shortcomings Found

1 report, 1 independent Updated Sat 00:00
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What happened

Some supportReported by 1 outlet

An evaluation by researchers at the University of Groningen found serious shortcomings in the Dutch banking system. Consequently, the Foundation for Banking Disciplinary Law is winding down. The Dutch Banking Association stated that banks can now develop their own disciplinary rules, though it stressed that the foundation had previously carried out investigations independently.

From nltimes.nl

Why it matters

Some supportBrind's analysis of the reports

Disciplinary law was established after the financial crisis to restore trust in the financial sector. The end of the partnership with the foundation follows two years of talks on overhauling the system. The Dutch Banking Association seeks a reform that limits disciplinary law to individually culpable conduct by bank employees, rather than general bank policy.

From nltimes.nl

Who's involved

  • Dutch Banking AssociationThe Dutch Banking Association is taking over disciplinary matters after the foundation closes.
  • University of GroningenThe University of Groningen conducted an evaluation that found serious shortcomings in the banking system.

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The entities involved

Coverage

Newest first; wire copies grouped