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Version date: 2 July 2021 - onwards

9. Independence of mind and independent members

9.1 Interaction between independence of mind and the principle of being independent

78. When assessing the independence of members, institutions should differentiate between the notion of 'independence of mind', applicable to all members of an institution's management body, and the principle of 'being independent', required for certain members of a relevant institution's management body in its supervisory function. The criteria for the assessment of 'independence of mind' are provided in section 9.2 and for the assessment of 'being independent' in section 9.3.

79. Acting with 'independence of mind' is a pattern of behaviour, shown in particular during discussions and decision-making within the management body, and is required for each member of the management body regardless of whether or not the member is considered as 'being independent' in accordance with section 9.3. All members of the management body should engage actively in their duties and should be able to make their own sound

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