The goal is to create a new organisation to help raise standards of competence and behaviour among bankers doing business in the UK. The Banking standards review consultation paper proposes that a new organisation be set up to define standards of good conduct and work with existing professional bodies, individual banks and building societies to help drive these standards into all business activities.
The ACT has participated in the early discussion of the review group and has now responded to the public consultation, very much welcoming its proposals, and the concept of a new body that can act as an umbrella body for existing professional bodies as regards standards.