'We should not confuse virginity with independence'
April 2, 2015
The renewed Banking Code came into effect in early 2015. Theo Camps, Professor of Organizational Science & Public Administration at TIAS and Chairman of the Board at consultancy firm Berenschot, has spoken to Finance Innovation about the main points of this Code and the role of regulators in enforcing these new guidelines.
Image: © Nationale Beeldbank
"There is a kind of foolishness going on, a kind of purism in which every potential conflict of interest is denounced. We have all shifted from the paradigm of affinity toward independence. Independence and virginity are confused here. While it actually adds value when regulators have experience or familiarity with the sector. Do not misunderstand me, I embrace the discussion and the necessary regulation, but I think we're going too far now,” says Camps.
Read the full interview (in Dutch)Theo Camps: “We moeten maagdelijkheid niet met onafhankelijkheid verwarren”, Finance Innovation
(2015) - in Dutch