'We need to get on this': govt orders bank inquiry

clock

The government has ordered a parliamentary inquiry into professional and cultural standards in British banking less than a week after Barclays was fined for attempting to fix Libor and its European equivalent, Euribor.

Under intense pressure from Labour, Prime Minister David Cameron made the move amid growing demands for a public inquiry into the loss of trust in the bankimng industry. The proposed inquiry, including peers and MPs, will be chaired by Andrew Tyrie, the Conservative chairman of the Treasury Select Committee. It will look into what lessons can be learned in relation to "transparency, conflicts of interest, culture and the professional standards of the banking industry". It is due to report by the end of December and will be provided with extra research resources by the Treasury. ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why the lead-up to the Budget may have been worse than the Budget itself

Why the lead-up to the Budget may have been worse than the Budget itself

What Rachel Reeves and Dr Evil have in common

Laith Khalaf
clock 13 November 2024 • 4 min read
Bank of England meets expectations with 25 basis point rate cut to 4.75%

Bank of England meets expectations with 25 basis point rate cut to 4.75%

'Continued progress' on disinflation

Valeria Martinez
clock 07 November 2024 • 2 min read
'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read