Parliament banking inquiry to report in December
The establishment of a Parliamentary Commission on Banking Standards in the wake of the Libor fixing scandal has been placed on the order paper at the House of Commons today (16 July.)
The motion will see a banking inquiry set up to investigate professional standards and culture of the UK banking sector and issues of corporate governance, transparency and conflicts of interest.
Treasury select committee chairman Andrew Tyrie will lead the commission, which will also include Mark Garnier, Andrew Love, Pat McFadden and John Thurso.
According to the announcement, the commission may join with any committee appointed by the House of Lords on the issue.
The commission will be expected to report on any legislative action no later than 18 December.