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ResPublica submits evidence to the Banking Standards Review

24th March 2014

  • ResPublica

ResPublica recently submitted evidence to Sir Richard Lambert’s Banking Standards Review, set up to create an independent organisation to review behaviour in the banking sector

ResPublica recently submitted evidence to Sir Richard Lambert’s Banking Standards Review. Set-up in response to the Parliamentary Commission on Banking Standards, the review will create a new independent organisation to help raise the standards of competence and behaviour in the banking sector.

In our submission, we stress the need for the new body to set-out a new social purpose for our banks as social institutions and to ensure it incorporates a diverse mix of ownership structures. Whilst no set of standards can or body to regulate standards can prevent financial crises, a clear set of standards with a comprehensive ethical underpinning will prevent at least some financial crises from occurring or, if they do, mitigate their effects on society and the wider economy.

ResPublica will be publishing a report this May, which will expand on these themes.


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