The Dutch Association of Banks and the Association of Insurance Companies have drawn up a new Code of Conduct with regard to the processing of personal data. The new code of conduct replaces the earlier version of 2003. The purpose of the code of conduct is:
- to impose rules on financial institutions with regard to data processing
- to provide information to those whose personal data are processed by financial institutions
- to contribute to the transparency of the data processing rules applied by the financial institutions.
The code of conduct applies to all member banks of the Dutch Association of Bank and banks afffiliated with Rabobank Nederland, and to insurance companies which are members of the Association of Insurance Companies. The Data Protection Board (College bescherming persoonsgegevens) has approved the new code. The approval is valid for five years.