Banking StandardsFurther written evidence from The Chartered Banker Institute

Registers

Copies of the Institute’s registers of a) Fellows and members holding Chartered Banker status, b) mortgage advisers and c) other members (Associates) participating in the Institute’s CPD scheme, which are available to the public on request, are attached.1

Registers of individuals holding or studying for lower-level professional banking qualifications (approx. 6,500 individuals) or who previously studied qualifications which did not at the time lead to membership of the Institute (approx. 6,800 individuals) are not published.

Are honorary members/fellows created currently and if so how?

Honorary Fellowships have been awarded to the following individuals in recent years to recognize their contribution and service to the Institute, to the banking profession more generally and to the conduct of business more broadly.

They are awarded by Council after consideration by a Nominations Committee.

Type

Awarded

Mr William Leslie Hutton

Honorary Fellowship

2005

Mr Kenneth Douglas Schofield

Honorary Fellowship

2005

Sir Angus Grossart

Lifetime Achievement Award

2007

The Reverend Group Captain Donald Wallace

Honorary Fellowship

2007

Sir John Ward

Honorary Fellowship

2007

Mr Edward Bowen (deceased)

Honorary Fellowship

2008

Mr Ewan Brown

Lifetime Achievement Award

2008

Sir William Purves

Lifetime Achievement Award

2009

Mr Angus McLennan

Honorary Fellowship

2012

In previous years, and in particular in the 1990s and early 2000s, Fellowships including full membership rights were awarded to senior industry figures to try to encourage them to support the Institute and, in particular, professional qualifications in their organizations.

Following Simon Thompson’s appointment as Chief Executive, this policy was changed and today, Fellowships including full membership rights are awarded by Council to individuals who are either (a) existing members of the Institute deserving recognition, or (b) individuals with significant banking experience, whom Council believes have made a significant contribution to banking, or to the objectives of the Institute.

Monitoring standards and the processes for taking action (and what type of action) against members and honorary members/fellows?

(a) Institute Disciplinary Powers

The Institute does not have statutory powers and is, for the most part, dependent on regulators and other competent bodies to investigate cases and take action.

Notwithstanding this, the Institute does, where it can, take disciplinary action and a copy of the disciplinary procedures is attached. In summary the Institute may begin disciplinary proceedings when:

Criminal sanctions have been imposed on a member;

Sanctions have been imposed by a regulator or other competent body;

The Institute is informed that a member has been dismissed by their employer for misconduct;

A member is believed to have knowingly breached the Institute’s CPD requirements;

A student is suspected of misconduct including cheating in exams and plagiarism; and

A complaint is received from a member of the public.

The Institute’s disciplinary committee comprises three members drawn from a panel of fellows and members, who may not sit on the Council. If the disciplinary committee considers that there has been a breach of the code it may impose one or more sanctions including expulsion from membership, suspension of membership for a specific period, as well as cancellation of passes in current or previous exams.

The disciplinary committee will determine if the sanction(s) should be notified to the regulator, member’s employer or made publically available.

(b) Monitoring of Chartered Banker Code of Professional Conduct and Professional Standards Implementation

The CB:PSB member banks are putting in place systems and processes to ensure individual adherence to the Chartered Banker Code of Professional Conduct, and investigate any breaches.

In July 2013 the member banks will be subject to the first annual review of implementation of the Chartered Banker Code of Professional Conduct and the Professional Standards. The review will comprise a)self-evaluation and b) an external audit by the Chartered Banker Institute. This monitoring process will be overseen by the CB:PSB Advisory Panel which comprises representatives of consumer and business groups.

11 January 2013

1 Not printed.

Prepared 24th June 2013