## Over 500 bankers sacked for code of conduct breaches in 2025 ### Sector-wide cleanup after misconduct surge More than 500 Australian bankers lost their jobs in 2025 due to breaches of the financial sector’s code of conduct, while thousands more were formally cautioned for misconduct. The industry, under pressure from regulators and consumers, is attempting to rebuild public trust after years of scandals involving unethical behavior and compliance failures. ### Regulator oversight and industry reforms The Banking and Finance Oath (BFO) and the Australian Banking Association (ABA) reported that most breaches related to integrity violations, conflicts of interest, and misuse of confidential information. A spokesperson for the ABA said: > "These dismissals demonstrate a much-needed cultural shift. Banks are no longer tolerating behavior that undermines trust in the system." Regulators, including ASIC and APRA, have increased oversight of internal compliance systems, requiring executives to assume personal accountability for misconduct within their teams. New frameworks now link bonuses and promotions to ethical performance, not just financial results. ### Misconduct categories and disciplinary actions According to available data, about a third of dismissed employees were from investment banking divisions, while others worked in retail and business banking. Less severe cases resulted in warnings, retraining, or temporary suspension. Many institutions now publish internal ethics scorecards to track progress in reducing violations. ### Cultural and public impact Public sentiment toward the financial industry remains cautious but improving. Though trust has not fully recovered, analysts note that transparency in disciplinary actions marks a positive shift toward long-term credibility. Bank boards are also placing greater focus on employee education programs addressing conflicts of interest and responsible practices. > “We’re seeing more self-reporting and accountability among employees than ever before,” an ASIC representative stated. *** **Author’s summary:** Over 500 Australian bankers were dismissed for code breaches in 2025 as banks tightened oversight, signaling a cultural shift toward transparency and ethical accountability.

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Australian Financial Review — 2025-11-30