Submitted on Friday 1st January 2016
Rejected on Tuesday 5th January 2016
Current status: Rejected
Rejection code: irrelevant (see below for details)
Insist The FCA conducts a banking inquiry as per business plan submitted.
On 31 December 2015, The FCA announced it would halt its public inquiry into the incentives and behaviours in the Banking Industry despite agreeing to run one in organisations business plan when founded. This decision should be reversed and Ministers should insist it goes ahead.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
The Financial Conduct Authority is operationally independent of Government and Parliament. That means that the Government and Parliament can’t intervene in the decisions it makes about its day-to-day operations.
Parliament makes the law which sets out the responsibilities of the FCA. You could start a new petition calling for Parliament to change the law, so that the FCA is required to conduct a review of banking culture.
Alternatively, you could ask the Government to commission a separate independent review of banking culture, or to carry out a review using its own resources.
You might also be interested in the work of the Parliamentary Commission on Banking Standards, which looked at professional standards and culture in the UK banking sector:
http://www.parliament.uk/bankingstandards
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