Submitted on Thursday 31st December 2015
Rejected on Tuesday 5th January 2016
Current status: Rejected
Rejection code: irrelevant (see below for details)
Direct the FCA to reinstate its banking culture inquiry
Poor behaviour by banking staff caused (and continues to cause) hardship throughout the country. The FCA, rightly, intended a major investigation into the culture, behaviour and pay of staff in banking. It has now decided not to go ahead. It is vital that we learn what we can to avoid future crises.
This is not "banker bashing". It is a sincere attempt to gather information on:
1. what has been going wrong
2. how the culture that exists (apparently unchanged) within banks contributes
3. what can be done to encourage, persuade or require banks to change their systems, processes and goals in order to reduce the risk of future crises
http://www.theguardian.com/business/2014/dec/02/fca-regulator-city-attitudes-tracey-mcdermott-banking-firms-impact-society
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
18.118.28.31 Sun, 22 Dec 2024 06:00:04 +0000
