The new banking watchdog will "complement the work of the regulators" in the sector but not look to "duplicate" their actions, founder and interim chairman Sir Richard Lambert has said.
After announcing his recommendations for the Banking Standards Review Council, he tweeted:
The BSRC will complement the work of the regulators by focusing its efforts on identifying and championing good practice. #bankingstandards
The BSRC should support and not duplicate the activities of the professional bodies, and should work with them in raising #bankingstandards