Parliamentary Commission on Banking Standards: Difference between revisions
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== Terms of reference == | |||
The Parliamentary Commission on Banking Standards was established by the UK Parliament to: | The Parliamentary Commission on Banking Standards was established by the UK Parliament to: | ||
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'''B.''' Make recommendations for legislative and other action. | '''B.''' Make recommendations for legislative and other action. | ||
== Final report == | |||
The Commission's 2013 report is designed to address: | The Commission's 2013 report is designed to address: | ||
Revision as of 13:53, 28 June 2013
(PCBS).
Terms of reference
The Parliamentary Commission on Banking Standards was established by the UK Parliament to:
A. Consider and report on:
- Professional standards and culture in the UK banking sector, taking account of regulatory and competition investigations into the LIBOR rate-setting scandal.
- Lessons to be learned about:
- Corporate governance.
- Transparency.
- Conflicts of interest.
- Their implications for regulation and for UK Government policy.
B. Make recommendations for legislative and other action.
Final report
The Commission's 2013 report is designed to address:
- Making the individual responsibility of senior bankers a reality.
- Reinforcing each bank's own responsibility for its own soundness and the maintenance of its standards.
- Creating better functioning and more diverse banking markets.
- Reinforcing regulators' responsibility to exercise judgement in deploying their powers.
- Specifying the responsibilities of the UK Government.
The Commission's report setting out its conclusions and recommendations can be downloaded here:
PCBS final report June 2013.
