The various sanctions explained

Welcome to the rulings-page of the Foundation for Banking Ethics Enforcement. Here you will find the different kinds of sanctions that can be imposed by the separate branches of the foundation. For a more detailed explanation, please read the Disciplinary Code for the Banking Sector. Each certified individual upon who a sanction is imposed, is registered in our disciplinary register.

Reprimand
A reprimand can be imposed on a certified individual by the Disciplinary Commission, the Appeals Commission and the Prosecutor’s Office (in case of a settlement). It consists of a formal, written censure of behavior.

Compulsory Training Course
A certified individual may be required to enlist in a certain training course by the Disciplinary Commission, the Appeals Commission or the Prosecutor’s Office (in case of a settlement). The individual is to personally pay the associated costs.

Fine
A certified individual may be fined up to €25,000 by the Disciplinary Commission, the Appeals Commission or the Prosecutor’s Office (in case of a settlement). The individual is to personally pay the fine.

Temporary professional disqualification
A temporary disqualification may be imposed for a maximum of three years by the Disciplinary Commission or the Appeals Commission. During this time, the certified individual is barred from working in the financial sector.

The disciplinary registry of the Foundation for Banking Ethics Enforcement
Our foundation has a registry in which names of certified individuals upon whom a sanction has been imposed are recorded. This also includes individuals who have agreed to a sanction by means of a settlement. The names will be kept  in the registry up to a maximum period of three years.