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 14 people have been killed after an overcrowded bus slipped off a mountain road and fell 980ft in Nepal.
A man in his 70s has been arrested on suspicion of the murder of Elsie Frost more than 50 years ago.
A challenge to the decision not to take further action against Sir Cliff Richard over alleged sex offences has been dismissed.