UK:
Plans Set Out For New UK Banking Professional Body
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On October 17, Sir Richard Lambert, the leader of the proposed
organization to monitor standards in the UK banking industry, gave
a speech outlining his plans for the new body.
He proposed to include a wide range of stakeholders, including
small businesses, consumers and employees, and he also indicated
that the organization should not duplicate the role of the
regulator, being instead in the business of 'excellence'
rather than 'discipline.' He stated that, in order to
give the organization credibility, the new body should have access
to the banks' boardrooms and should provide an annual public
account of where it believes the industry can improve. Speech.
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