Banks recognise need for major culture shift, says FSA’s Turner

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Adair Turner, UK FSA

Banking industry leaders recognise the need for major changes to banking culture, according to Adair Turner, chairman of the UK Financial Services Authority (FSA). In his annual Mansion House speech in the City of London last night, Turner said that culture in banks was partly to blame for the crisis and the industry understood the need for change. He said regulators also had their part to play in changing the culture within banks: "There are increasing signs that many banking industry leader