IMA, responding to the Parliamentary Commission on Banking Standards, says banking culture has not been as much of a problem as the changes to banking structure and incentives. It notes the growth of investment banking and increased use of derivatives have changed the traditional banking market place and shifted the focus of risks. It said it supports the“retail ring fence” the Government proposes to put in place but says recent events should encourage the Government to review its decision to allow derivatives within it. (Source:IMA Response to Parliamentary Commission on Banking Standards)