Financial Times editor Lionel Barber has said the PCC failed to enforce its code during the phone hacking scandal.

Barber, appointed as editor in 2005, was questioned over the code and internal Financial Times standards at the Leveson Inquiry.

He went on to say that the code must be seen to be credible and in the case of phone-hacking this clearly had not happened – and it was a matter to be discussed between editors. He added the code needs to be “enforced before it is substantially amended”.

Barber was also asked about internal procedure within the Financial Times and explained how staff must confirm they have read the FT code and sign an investment register.

He said that it was “fundamental” that the paper upheld the “highest standards” of journalism to maintain the trust of readers, firmly stating: “Financial Times journalists do not break the law”. He added: “We are making sure that we are not in any way conflicted or behaving unethically.”

Barber explained that although the Financial Times is focused on business and finance news, it was also interested in the “private lives” of others. He referenced a story broken by the paper last year that exposed António Horta-Osório, Lloyds Banking Group CEO, as suffering from stress.

The editor has worked for the Financial Times for over 26 years and has held several positions during this time including U.S. managing editor and Washington correspondent.