The City of London Corporation welcomed the Parliamentary Commission on Banking Standards report, saying it has put forward "some sensible suggestions" on incentives, improved accountability and increased competition.
Policy chairman Mark Boleat said: “It is important, however, to note that much work has already been done in this area and the impact of past reforms should be properly assessed before more changes are introduced.
"What the banking sector needs is clarity and certainty from policymakers over the future shape it will be required to take in coming years.
"The City Corporation stands ready to help facilitate dialogue to explore how to implement these recommendations”.
More top news
There is a snow and ice warning in force for much of the UK tomorrow, but temperatures will be slightly higher than today.
A Quebec man has missed out on winning millions on the Canadian lottery, because his ticket was printed out seven seconds too late.
The dramatic moment that Dutch police stormed a TV studio to arrest a gunman was caught on the station's cameras.