CP:PSB has published an updated code of professional conduct setting out the ethical and professional values, attitudes and behaviour expected of all professional bankers. The changes make the code consistent with FCA and PRA terminology. All CB:PSB member firms subscribe to the code, and are expected to align and enhance their own codes of business and personal conduct, and similar, with this code. Best practice now comprises:

  • treating all customers, colleagues and counterparties with respect and acting with integrity;
  • developing and maintaining professional knowledge and acting with due skill, care and diligence; considering the risks and implications of their actions and advice, and being accountable for them and their impact;
  • being open and cooperative with the regulators; complying with all current regulatory and legal requirements;
  • paying due regard to the interests of customers and treating them fairly;
  • observing and demonstrating proper standards of market conduct at all times;
  • acting in an honest and trustworthy manner, being alert to and managing potential conflicts of interest; and
  • treating information with appropriate confidentiality and sensitivity.

CP:PSB has also published an updated version of its foundation standard for professional bankers, which supplements the code by setting out CP:PSB expectations of all individuals applying the code on a daily basis. (Source: CB:PSB Publishes Revised Code of Conduct)