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| (PCBS).
| | == Summary == |
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| === Terms of reference ===
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| The Parliamentary Commission on Banking Standards was established by the UK Parliament to:
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| '''A.''' Consider and report on:
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| # Professional standards and culture in the UK banking sector, taking account of regulatory and competition investigations into the LIBOR rate-setting scandal.
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| # Lessons to be learned about:
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| ## Corporate governance.
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| ## Transparency.
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| ## Conflicts of interest.
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| ## Their implications for regulation and for UK Government policy.
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| '''B.''' Make recommendations for legislative and other action.
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| === Final report ===
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| The Commission's 2013 report is designed to address:
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| # Making the individual responsibility of senior bankers a reality.
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| # Reinforcing each bank's own responsibility for its own soundness and the maintenance of its standards.
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| # Creating better functioning and more diverse banking markets.
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| # Reinforcing regulators' responsibility to exercise judgement in deploying their powers.
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| # Specifying the responsibilities of the UK Government.
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| The Commission's report setting out its conclusions and recommendations can be downloaded here:
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| [[Media:PCBS report June 2013.pdf|PCBS final report June 2013]].
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| ==Note==
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| The Association of Corporate Treasurers gave both written and oral evidence to the Commission. Justin Welby, a member of the Commission, was Lord Bishop of Durham on his appointment and became The Most Rev. and the Rt Hon. the Archbishop of Canterbury before it reported. A former Treasurer of Enterprise Oil, he is a Fellow of the ACT.
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| == See also == | |
| * [[LIBOR]]
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| * [[Banking Standards Review]]
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| ==Other links==
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| *[http://www.parliament.uk/bankingstandards UK Parliament: PCBS]
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| [[Category:Compliance_and_audit]]
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| [[Category:Compliance_and_audit]]
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| [[Category:Compliance_and_audit]]
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| [[Category:Ethics]]
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