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Bank Claim: Financial services have 'direct impact on public'

Members of the banking industry must be seen to live up to the "highest standards of integrity".

This the opinion of alderman Alan Yarrow, chairman of the Chartered Institute for Securities and Investment (CISI) and sheriff of the City of London.

His views were published in CISI's latest publication on the day the institute debated whether or not the banking industry is an asset or a liability to the UK.

Mr Yarrow believes standards within the industry are high but acknowledges that they are not perfect and he recognised the banking sector is an industry where actions have a "direct and catastrophic impact upon our customers".

He said there is now an intense media and consumer focus on the financial services that ensures every misdemeanor is played out in the public eye.

Mr Yarrow was appointed chairman of CISI in September 2009 and is sheriff for the 2011-12 period. The role of sheriff dates back to the seventh century and is viewed as a springboard for Lord Mayor candidates.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-800741728-ADNFCR



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