UK banks to fund ‘independent' body tasked with improving industry culture
Recommendations from former MPC member ‘accepted' by seven major banks
UK banks have agreed to fund an independent body aimed at improving the culture of the country's financial industry and restoring public trust damaged by the "evidence of poor values and malpractice on a wide scale", following recommendations from a former Bank of England (BoE) official.
The Banking Standards Review Council (BSRC) will be launched later this year and act as an "independent champion of better banking standards", according to a report published today by Richard Lambert, a member
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