JOINT

Parliamentary Commission on Banking Standards appointed

17 July 2012

The Parliamentary Commission on Banking Standards is a joint Committee appointed by both Houses.

The Parliamentary Commission on Banking Standards is a joint Committee appointed by the House of Commons and the House of Lords to consider and report on:

  • professional standards and culture of the UK banking sector, taking account of regulatory and competition investigations into the LIBOR rate-setting process 
  • lessons to be learned about corporate governance, transparency and conflicts of interest, and their implications for regulation and for Government policy;

The Commission has been asked to make recommendations for legislative and other action. It has been asked to report on legislative action no later than 18 December 2012 - before the Banking Reform Bill is published - and on other matters as soon as possible thereafter.

Membership

The membership of the Commission is as follows:

  • Andrew Tyrie MP, Chairman
  • Mark Garnier MP
  • Andy Love MP
  • Pat McFadden MP
  • John Thurso MP
  • Lord Turnbull
  • Baroness Kramer
  • Lord Lawson
  • Lord McFall
  • The Bishop of Durham

The Commission has powers to examine witnesses on oath, to invite specialist advisers (including Counsel appointed as specialist advisers) to examine witnesses and to appoint sub-committees to consider matters specified by the Commission.

Image: iStockphoto

 

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