UK:
UK Banking Standards Board Publishes First Annual Review Report
05 April 2016
Shearman & Sterling LLP
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On March 8, 2016, the Banking Standards Board published its
first annual review report. The BSB was launched in April 2015 to
help raise standards of behavior and competence in the banking
sector. The report discusses the assessment exercise that the BSB
ran during 2015 with 10 banks on how each firm was performing
against its objectives on behavior, competence and culture. The BSB
aims to gather information collected from the assessment and create
an evidence-based picture of concerns and developments at industry
and individual firm level. It is intended that the 2016 exercise
will be more comprehensive and will be scaled up to include a wider
number of member firms. The 2016 assessment will also include
quantitative factors to help firms benchmark themselves against
their peer firms.
The report is available at: http://www.bankingstandardsboard.org.uk/wp-content/uploads/2016/03/BSB-Annual-Review-20152016.pdf.
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