The Oath

Trust is the foundation of my profession.

I will serve all interests in good faith.
I will compete with honour.
I will pursue my ends with ethical restraint.
I will help create a sustainable future.
I will help create a more just society.
I will speak out against wrongdoing and support others who do the same.
I will accept responsibility for my actions.

In these and all other matters;
My word is my bond.

The Vision


A banking and finance industry that
meets the community’s needs and has its full confidence thereby fulfilling its integral role in society.

BFO in the News

News

Code of bank conduct 'window dressing' without enforcement:ASIC

8 June 2017

The inaugural BFO Conference provided an environment that allowed ASIC, APRA and the banks to talk openly about areas within financial services that need stronger ethical consideration. James Eyers reports on the day.

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News

New laws could punish 'honest if mistaken judgments': Harrison Young

8 June 2017

Clancy Yeates attended The BFO conference and reports on the open discussion had about the regulator's power to ban senior bankers and much more.

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News

Banking on Trust

2 April 2017

There’s no doubt that the public are calling for change when it comes to the financial-services industry, and that everyone wants to see a more ethical approach, which is why David Gonski, the ANZ chairman, is happy to sign the Banking and Finance Oath. According to Gonski, the relationship between the financial services and ethics continues to evolve. He tells Ben & Co. that the Banking & Finance Oath is central to the local banking and finance sector.

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News

ASIC's Greg Medcraft doubles down on bank culture war

22 November 2016

Patrick Durkin reviews The Banking and Finance Oath/Melbourne University in Melbourne.

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News

New RBA chief Philip Lowe: I agree, banks have a big trust gap

23 September 2016

Dr Philip Lowe called on bank leaders to follow him in signing the “The Banking and Finance Oath”, a code of conduct developed by the banking industry that declares trust is at the heart of the profession.

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News

Momentum grows for Banking and Finance Oath as ANZ's Shayne Elliott and David Ginski sign

16 August 2016

Momentum to sign the Banking and Finance Oath is growing among top banking executives with ANZ Banking Group's chief executive Shayne Elliott and chairman David Gonski the latest to sign up to the initiative to lift ethical standards in the industry

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News

Banker's refusal to sign Oath is eroding trust, says John Laker

16 May 2016

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.

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News

Conflicted remuneration faces the guillotine.

21 April 2016

Tony Boyd identifies an adoption of The Banking and Finance Oath (BFO) across the sector as "a major step forward"

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News

Dr Ken Henry - The Future of Banking

21 April 2016

Dr Ken Henry delivered the key note speech at the 2016 AFR Wealth Summit with a strong focus on ethics, culture and conduct.

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News

The Banking Oath could send a strong message: John Laker

19 April 2016

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.

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News

Can banks regain public trust? The BFO is a good place to start.

18 April 2016

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.

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News

Dr Simon Longstaff makes the case against a royal commission into Australia's banking sector.

15 April 2016

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.

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News

Banks Dangerously complacent on risk culture - James Eyers.

11 April 2016

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.

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News

NAB Chairman Ken Henry talks about banking culture.

4 April 2016

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.

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News

Can ethics survive in the world of banking: A lesson from CommInsure

9 March 2016

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.

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News

Banking culture wars shouldn't hide code questions

8 March 2016

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.

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News

Ethics and compromise don't mix

8 February 2016

Competition may be crucial to the health of the banking and finance industry, but it shouldn’t come at the expense of ethical behaviour.

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News

NAB Executive team takes The BFO

10 December 2015

Andrew Thorburn, CEO of NAB has chosen to take The Banking and Finance Oath

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News

John Laker to chair Banking and Finance Oath.

13 November 2015

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.

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News

Clare Payne champions ethics

24 October 2015

Clare Payne's unique focus on banking and finance ethics has helped her win Money Management and Super Review's Industry Advocacy Award

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News

Banking and Finance Oath reshuffles board

13 October 2015

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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News

Moral dilemma when money's at stake

15 September 2015

A study has found that it may be possible, with specific ethics training, to improve the moral judgment of finance students.

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News

US Judge finds class actions aid economic honesty

2 September 2015

Class actions and suits brought by regulators help the economy because the public's trust in the honesty and fairness of financial markets is one of the "greatest assets" a nation can have, eminent US judge Jed Rakoff says.

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News

Banking and Finance Oath gains high-level support

1 September 2015

Four years after it was established to provide an ethical anchor for the financial services sector, support for the Banking and Finance Oath is gathering momentum.

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News

Dukascopy TV talks to Clare Payne about The BFO

17 August 2015

After speaking at the 2015 FSC conference, Clare Payne met up with Natalie MacDonald to talk about the changes in the Australian banking and finance industry and the relevance of The BFO.

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News

Dukascopy TV talks to Dr Simon Longstaff

14 August 2015

Simon Longstaff discusses the ethical nature of financial services in Australia today and how The BFO looks to change the investors experience.

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News

The ethical obligation of super

19 May 2015

Dr Simon Longsatff argues that the superannuation sector and the financial advice industry more generally must balance the instinct to compete with a proper regard for the public interest.

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News

Crikey - Stevens issues warning on misconduct

8 May 2015

Glenn Stevens "Finance depends on trust. In fact, in the end, it can depend on little else"

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News

Student Film Competition

2 March 2015

Finance and Film! The BFO launches a student film competition, with the opportunity to be recognised and celebrated at an industry event with excellent networking opportunities.

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News

Why ethics and success go hand in hand

20 February 2015

BFO Board member Phil Chronican, ANZ and FINSIA'z Russell Thomas talk about ethics and success going hand in hand

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News

Guilty NAB trader blames Wolf on Wall Street culture

13 December 2014

"Drawing a long bow on responsibility": Pauline Vamos stresses the importance of individual responsibility, reiterating the principles of the BFO, while Professor Ian Ramsay identifies a flawed argument, in establishing culture as the basis for individual illegal activity.

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News

Consumers flocking to BT's financial planning website

12 December 2014

Transparency and product risk profiles are the order of the day, but will this prove enough for consumers? The Banking and Finance Oath (BFO), and member Pauline Vamos, comment on the approach of the BT Financial planning website.

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News

Taking the High Ground

3 December 2014

The high road represents the only road: Clare Payne explains the diverse role of the Banking and Finance Oath in reigniting the ethical foundation of the industry.

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News

Finding a Moral Compass

25 November 2014

Jon Durie argues Australia is not immune to the recent ethical failures that litter international financial markets. He asks why this cultural dilemma remains largely sidelined.

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News

Steve Tucker joins Peter Switzer

29 July 2014

Director Steve Tucker explains the objectives of The Oath, highlights the role of the individual in acting in the best interest of the client, and discusses the Future of Financial Advice (FOFA) reforms.

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News

Ending commissions 'cost' MLC

23 July 2014

Steve Tucker gives a personal account of the fee-for-service financial advice model, and reiterates the significant role of the Oath, in bringing open discussions to the foreground.

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News

Bank ethical body stands up for whistle-blowers

15 July 2014

ASIC Chairman Greg Medcraft comments that "sustainable long-term change" in the industry requires a commitment to a change in culture, while BFO signatories highlight the role of the individual.

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News

Bankers and financial advisers swear by it

14 July 2014

Can the Banking and Finance Oath represent the nucleus of ethical change to the Australian banking industry? Gittins believes quite possibly.

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News

Ethical board calls for whistle-blower support

9 July 2014

The BFO stresses the importance of halting unethical behaviours early, and the crucial, often difficult role within this, played by whistle-blowers.

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News

Financial Ethics Must Come From Within

5 July 2014

Tony Boyd of the Australian Financial Review explores the necessity for banking industry leaders to take initiative on ethics within their establishments, complementing new regulatory approaches.

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News

Taking the wolf out of Wall Street

17 March 2014

Post financial crisis, industry leaders have taken note: The Banking and Finance Oath is set to gain further momentum.

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News

Banking industry leaders launch ethical review panel

18 July 2013

Learn about the establishment of the Banking and Finance Oath and the independent review panel.

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News

Pauline Vamos and Philip Chronican join The Banking and Finance Oath board

18 March 2013

Pauline Vamos, CEO of the Association of Superannuation Funds of Australia (ASFA), and Philip Chronican, CEO of ANZ, Australia join the board, and emphasise the need for a focus on ethics and trust in the industry.

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News

Article from David Bell on The Banking and Finance Oath in the spring issue of Living Ethics

19 October 2012

“By their example other will follow”: David Bell considers the importance of individuals in taking the oath.

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