Banks discuss new standards body amid royal commission

see url Behind-the-scenes discussions between banks, regulators and industry associations are continuing to create a new Professional Banking Council that would govern industry-wide standards of professional conduct and competency, as banks brace for more damage to their reputations as the royal commission re-starts in Melbourne. 

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http://www.prestatraining.com/anys/brokoli/2784 Industry sources said discussions about how to create a more “professional” banking industry are proceeding slowly as banks adopt a conservative approach to reform as the royal commission continues. Discussions about the council have been broadened to include regional and customer-owned banks, and Finsia, a not-for-profit industry standards body pushing the council, is talking to banks about creating an independent monitoring panel that would report on how the new council’s standards are being implemented.

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source Read the full article on The Australian Financial Review.

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