Parliamentary Commissions of Inquiry

The Public Administration Select Committee produced reports in the 2005 Parliament calling for a mechanism for Parliament to establish an independent inquiry.

On 16 July 2012 a Parliamentary Commission on Banking Standards was established by a motion in the House of Commons. The powers of the Commission are as set out by the motion. It is due to report its main recommendations on legislation action before 18 December 2012 before the Banking Reform Bill is published.