Unscrupulous behaviour in the UK's banking industry could lead to individuals being struck off a new professional register, it has emerged.
Chief executive of the British Bankers' Association (BBA) Anthony Browne revealed his organization is considering the creation of a new independent body to monitor the actions of people working in the country's financial sector.
Such groups are commonplace in other industries - such as healthcare and the legal sector - and membership of the BBA's panel would be compulsory for all banking professionals.
Under the rules of this organization, bankers could be removed from the register if they breach ethical standards and, during an interview with the Financial Times, Mr Browne explained it is vital for the group to exercise its power when this is needed.
"Such a body will only have credibility if it will be independent from the industry and if it will have real teeth," he noted.
By Asim Shah