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 i.a. on the professional standards and culture of the UK banking sector.
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:
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professional standards and culture of the UK banking sector, taking account of regulatory and competition investigations into the LIBOR rate-setting process;
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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.
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