Parliamentary commission on banking standards set up
Established in wake of Libor scandal, chair will be Andrew Tyrie MP, also chair of the Treasury select committee
In the wake of the Libor scandal, a parliamentary commission on banking standards was set up on Tuesday, to be led by Andrew Tyrie, who also chairs the Treasury select committee (TSC). He said: “Recent scandals have shown how much we need higher standards in banking … perpetrators of wrongdoing should be held fully accountable.”
The other commission members are:
Mark Garnier MP: Tory former investment banker and member of TSC
Baroness Kramer: Lib Dem one-time London mayoral candidate who used to be a banker in Chicago
Lord Lawson: Former Tory chancellor
Andy Love MP: Labour TSC member and former small businessman
Pat McFadden MP: Labour MP who was a speechwriter for John Smith and political secretary to Tony Blair
Lord McFall: Labour ex-teacher who was the chairman of TSC at the time of the banking crisis
John Thurso MP: A Lib Dem, Eton-educated ex-hotel manager; as 3rd Viscount Thurso was once in the House of Lords
Lord Turnbull: Former civil service chief, now a director of the Prudential
The Rt Rev Justin Welby, the Bishop of Durham: Eton-educated former oil executive, who later studied theology, becoming a curate in 1992
