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Now is the worst time for UK banking to lose its conscience
Evening Standard
|October 17, 2023
THE Financial Services Culture Board (FSCB) was founded in 2015 in response to the shocking malfeasance of banking executives that led up to the 2008 banking crisis and (as if they hadn’t learned their lesson) after the interest rate Libor scandal in 2012. When bankers go bad, they go big, and that can affect us all.
The mission of the FSCB — originally known the Banking Standards Board — was to “help raise standards of behaviour and competence” across the financial services sector. It published research, ran behavioural trials and employee surveys, and facilitated the sharing of good practices among its members. It was quietly shut this June, and its closure is the beginning of the erosion of accountability for bankers.
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