On 12 March 2018, the Banking Standards Board (BSB) published a Statement of Principles for Strengthening Professionalism – the role of the firm. The principles are designed to challenge and support leaders of banks and building societies by providing a reference point against which they can evaluate their own policies and practices, and will also be used to help inform the BSB’s future work programme.

The principles do not impose any legal or regulatory obligations on BSB members, nor do they replace regulation. However, the principles allow BSB members to reference their own policies and practices against a set of aspirational guiding principles.