Dutch to set up code of conduct for banking sector

AMSTERDAM, June 11 (Reuters) - The Dutch banking sector and finance ministry will work together to establish a code of conduct for banks based on the findings of an advisory committee, a Dutch bankers association said on Thursday.

Lobbying group Netherlands Bankers' Association (NVB) said the code would serve as future guidelines for banks, and focus on ways to strengthen corporate governance, risk management and the social role of banks.

In April, a committee commissioned by the NVB and headed by Cees Maas, former finance director of Dutch bank and insurer ING (ING.AS), advised banks to curb bonuses and look to risk management to restore confidence in the banking sector.

NVB said it aimed for the code to be ready by autumn. Banks will have to comply with it unless they can explain why they cannot, it said in a statement. A monitoring committee will be set up to observe compliance.

The government has already said it would, on its own, implement one of the advisory committee's recommendations -- a licensing test of sorts for bank boards. (Reporting by Catherine Hornby; Editing by Dan Lalor)