UK: The work of the Parliamentary Committee on Banking Standards

The Parliamentary Committee on Banking Standards has announced that next month it will be begin pre-legislative scrutiny of the draft Banking Reform Bill, through which the Government proposes to implement the Vickers recommendations: see here. A written record of the oral evidence given to the Committee last week by Sir David Walker, the chairman of Barclays Bank plc, has also been published: see here (a video recording is available here). Sir David offered his views on a wide range of governance issues and reflected on the report he produced in 2009 on the governance of banks (available here, pdf). Looking back at his report, Sir David stated that he was struck by the fact that his 2009 report did not say much about culture or reputation.