UK banking regulator ditches review of industry culture

London

A PUBLIC review of Britain's banking culture has been scrapped just months after it was announced, with the UK regulator saying on Thursday that it had opted instead to work with lenders individually to address any concerns.

The move is likely to add to the public perception that the Financial Conduct Authority (FCA) is softening its approach after several years of "banker bashing" following the 2007-2009 financial crisis.

It follows the departure of Martin Wheatley, seen by some in the sector as a regulatory hardliner, as the FCA's chief executive in July, and a dilution of impen…