DNB wants to use this study to hold up a mirror to banks and prompt a discussion about their own conduct and culture. Wherever the regulator identifies risks, it will expect the banks to devise and implement their own actions for improvement.
DNB also wants to present the overall results of the study to the sector as a whole. The regulator will be organising a seminar on the subject in December.
Conduct and culture are fully in the spotlight. DNB wants to broadly take up this theme at various levels, from individual organisations to the financial sector as a whole. The regulator is thus carrying out relevant theme-based surveys and sharing the generic results with the sector. This will help to raise awareness, spark debate and encourage change.
But there is much more to do. The regulator is keen to tie in with initiatives being organised from within the sector, and to play a connecting and incentive role. The aim is for board members, managers and staff to be permanently alert to the risks concealed within conduct and culture and to be genuinely prepared to adapt their own conduct and culture accordingly. This calls for a high level of commitment from all of us. However, in taking these steps we will get a lot in return, namely public trust and stability.