Last September, I was asked by the chairmen of Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland, Santander, Standard Chartered and Nationwide to come up with proposals for a new organisation to raise standards in banking, open to all banks and building societies in the UK. This consultation paper is based on extensive discussions with many different groups, and the responses will shape my final recommendations to be published at the end of March.
Who should respond?
I am hoping for the widest possible response. I would like to hear from banks and building societies with UK operations; customers and consumer groups; professional bodies with members working in banks; bank staff and trade unions; the Bank of England, financial regulators and investors; politicians; and anyone else with an interest in banking in Britain.
How to respond
The consultation paper raises 19 questions. Please provide a specific answer to all or any questions along with any additional comments you may have. The deadline for receiving this feedback is 7 March.
Comments should be sent via email to email@example.com.
If you wish to respond in writing please send your comments to: Banking Standards Review, 1st Floor, 60 Gresham Street, London, EC2V 7BB
Based on feedback to this consultation paper, I intend to publish recommendations and a business plan at the end of March. The aim should be to have the new body up and running by the end of 2014.
Responses to this consultation will be published. If you would like your response to be treated confidentially please explicitly state this in your correspondence.