Since 2008 the financial services industry has struggled with the issue of trust. From banker bashing to deposed knights, the public mood is increasingly sceptical of the abilities of the investment industry to operate ethically and act in the best long-term interests of investors and the public.

The time for action is now. There must be significant changes to the structure and culture of the banking industry. Only then can we start the long road to restoring public confidence and properly protect consumers from a repeat of the financial crisis.

Once again British banks are in the bad books, with the recent antics at Barclays prompting the Prime Minister to announce a review of the entire industry.

No more excuses; this is a broken record. Credit crisis, moral hazard, payment protection insurance, taxpayer bailouts, mis-selling, bumper bonuses, rogue trading, "Muppets", collusion, lending.....the scandals hitting the banking industry roll on and on.