Chairman of the FCA, John Griffith-Jones, said:
"Sir Richard Lambert and his team have done a thorough job which will give the industry and regulators much to consider as we seek to improve standards across the board.
"Everyone is aware of the challenge to regain the trust of the public and that can only be done by working to the highest standards and displaying the appropriate behaviour at all times.
"We look forward to working with Sir Richard and the industry on this vital issue."
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