The new banking sector watchdog will not be allowed to use any political connections it has to influence Government policy, it has emerged.
Other recommendations expected are:
- The watchdog will be funded by the banks, but will be independent.
- It will look at the behaviour of banks eg. around issues of how they incentivise staff to sell products.
- Membership is voluntary.
- The report is expected to cover all banking but will not make any recommendations about bank structure.
More top news
At least two people have died and more than 120 others have been injured after an earthquake rocked Turkey and the Greek island of Kos.
The son Cecil the lion, whose 2015 killing prompted an international outcry, has also been fatally shot during a hunt.
Thickening cloud and rain stalling across Wales and southwest England through tomorrow