On 31 December 2015 the FCA abandoned the Thematic Review of Banking Culture it had in its business plan for that the following year, leaving the issue of culture change to the BSB/BSRC – in other words to the banks themselves. The reaction of the public so far suggests a further collapse in trust in both regulator and banks. Will this really go away?
Richard Samuel is a barrister at 3 Hare Court, London. His article ‘Tools for changing banking culture: FCA are you listening? Why the FCA’s IRHP mass dispute resolution system has failed and what the FCA can do about it’ is published in Capital Markets Law Journal (Volume 11, Issue 2)