Top UK banks back new watchdog Britain's biggest banks have thrown their weight behind the creation of a tough new professional standards body for the UK's beleaguered financial sector as they brace for reaction to bonus awards in the coming months. Anthony Browne, chief executive of the British Bankers" Association, called for the creation of an independent Banking Standards Review Council to police the sector as he appeared before a parliamentary commission on Monday. "If the UK authorities support such a board, the chairmen of the main UK banks have pledged their support and co-operation to make sure it is effective," Mr Browne told the Financial Times. When asked by politicians on The Parliamentary Commission on Banking Standards about reports that Goldman Sachs was planning to delay making UK bonus payments to avoid a higher UK tax rate, Mr Browne said: "It clearly doesn't restore trust." The BBA also called for the establishment of a code of conduct setting out ethical principles, which it said should apply to all bank employees. It suggested that a "blacklist" of employees could be developed to prevent those who fail to adhere to those standards from working in banking or financial services. "Clearly there has been a lapse in professional and ethical standards," Mr Browne told the commission. The lobby group's proposals are part of efforts by British banks to restore trust following high-profile scandals including the Libor rate-rigging affair and mis-selling of payment protection insurance. They also mark a more conciliatory tone from the BBA, in contrast to the resistant stance towards the government and regulators it has taken in recent years. Responsibility for enforcing the code could lie with the Banking Standards Review Council, much as the General Medical Council monitors the health sector. It could also lie with the new Financial Conduct Authority, which will administer an approved persons regime that is expected to be less extensive than the BBA's proposal. The BBA said this could be expanded to cover all employees who interact with customers, as well as dealers and those who conduct significant wholesale market transactions. The BBA's proposals come as the world's largest investment banks are expected to shrink bonus pools for last year by 30 to 40 per cent on average according to PwC. Barclays is expected to reduce bonuses by more than 15 per cent after it set aside 9 per cent less for overall pay in the first nine months of 2012 compared with the same period in 2011. People close to Deutsche Bank said the German lender was preparing to cut bonuses by 15 per cent from last year's levels.