The Belgium Financial Services and Markets Authority (FSMA) reported that it has administered the banker’s oath to more than 500 bankers as Belgium’s new disciplinary regime is rolled out, requiring covered bankers to make a personal commitment to integrity, professionalism, and honest and fair treatment of clients. The regime is entering into force in two phases: since the start of 2025 it applies to members of senior management, key function-holders and managerial staff in banks, with other bankers scheduled to come into scope in summer 2026. Bankers have six months from the regime’s entry into force, or from taking up their position, to swear the oath. Non-compliance can lead to FSMA disciplinary sanctions, including a prohibition on practising the profession for up to three years. Up to 12 June 2025, 15 oath-taking sessions were held at the FSMA, supported by a questionnaire on recurring ethical issues, with results indicating broad awareness of the regime but less clarity on how individual responsibilities are allocated within banks. From summer 2025, the FSMA will hold three oath-taking sessions per half-year for senior managers and key function-holders, while other banking staff will take the oath before a senior manager within their institution once the second phase begins.
Belgium Financial Services and Markets Authority 2025-06-16
Belgium Financial Services and Markets Authority administers the banker’s oath to over 500 bankers under new disciplinary regime
The Belgium Financial Services and Markets Authority (FSMA) has administered the banker’s oath to over 500 bankers under a new disciplinary regime requiring integrity and professionalism. Effective from early 2025 for senior management and key function-holders, it will extend to all bankers by summer 2026, with non-compliance potentially resulting in sanctions. The FSMA plans regular oath-taking sessions and noted broad awareness of the regime, though clarity on individual responsibilities remains limited.