LONDON, Nov 21 (Reuters) - British Prime Minister Gordon Brown said on Saturday in his weekly podcast he was ready to 'respond swiftly' to David Walker's banking review recommendations expected next week.
Walker, who will next Thursday publish the final report of his government-sponsored review, has outlined 39 recommendations on how banks should be run, ranging from pay policies to board member selection.
The review was called to help restore credibility to a financial industry vilified by taxpayers who footed its bailout bill.
The government has already said it backs the findings of the preliminary version released this year.
Last week, the government introduced the Financial Services Bill in the Queen's Speech, the government's legislative programme, which contains provisions on pay.
Brown warned banks they had a responsibility 'to never again put the jobs, homes, livelihoods and savings of others in jeopardy.'
'That's why -- through the Financial Services Bill announced in the Queen's Speech -- we are ready to respond swiftly to the recommendations of Sir David Walker's review of banking,' he said.
'We'll be able for the first time to force companies to publish details about the pay of their most senior executives.
'It will give us the powers to reform the running and the boards of banks.'
He also talked about helping young people secure jobs in an 'uncertain world', which he will outline in a speech at the Confederation of British Industry (CBI) on Monday.
For a Take a Look on financial regulation, click on
(Reporting by Avril Ormsby; editing by James Jukwey) Keywords: BANKS BROWN/WALKER (avril.ormsby@reuters.com ; +44 207 542 1816; Reuters Messaging: avril.ormsby.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Walker, who will next Thursday publish the final report of his government-sponsored review, has outlined 39 recommendations on how banks should be run, ranging from pay policies to board member selection.
The review was called to help restore credibility to a financial industry vilified by taxpayers who footed its bailout bill.
The government has already said it backs the findings of the preliminary version released this year.
Last week, the government introduced the Financial Services Bill in the Queen's Speech, the government's legislative programme, which contains provisions on pay.
Brown warned banks they had a responsibility 'to never again put the jobs, homes, livelihoods and savings of others in jeopardy.'
'That's why -- through the Financial Services Bill announced in the Queen's Speech -- we are ready to respond swiftly to the recommendations of Sir David Walker's review of banking,' he said.
'We'll be able for the first time to force companies to publish details about the pay of their most senior executives.
'It will give us the powers to reform the running and the boards of banks.'
He also talked about helping young people secure jobs in an 'uncertain world', which he will outline in a speech at the Confederation of British Industry (CBI) on Monday.
For a Take a Look on financial regulation, click on
(Reporting by Avril Ormsby; editing by James Jukwey) Keywords: BANKS BROWN/WALKER (avril.ormsby@reuters.com ; +44 207 542 1816; Reuters Messaging: avril.ormsby.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.