Treasury Committee publishes PCBS Report
17 November 2014
Treasury Committee publishes Report on implementing the recommendations of the Parliamentary Commission on Banking Standards
Report: Implementing the recommendations of the Parliamentray Commission on Banking Standards
The Treasury Committee has today (17 November) published a Report (attached) assessing the progress made by the Government and the regulators on implementing recommendations from the Parliamentary Commission on Banking Standards.
Commenting on the Report, Andrew Tyrie MP, Chairman of the Treasury Committee and former Chairman of the Parliamentary Commission on Banking Standards, said:
“The recommendations made by the Parliamentary Commission on Banking Standards set out an innovative and wide-ranging agenda for reform in the banking sector.
“Effective implementation of these recommendations—on individual responsibility, regulation, corporate governance, remuneration, competition and enforcement—is essential to the delivery of lasting improvements in standards and to restore public trust in the financial sector.
“The Treasury Committee will continue to monitor carefully the progress in implementing and maintaining the momentum behind these reforms. The Report published today provides a preliminary guide to it.
“We will scrutinise, and where appropriate challenge, the actions of the Government and particularly the much more powerful independent regulators that it has created."