-Threat of UK bank retail/investment operations split should stand.
Global Banking News - 20 November 2012
The head of banking supervision in the Financial Services Authority, Andrew Bailey, has said that banks that fail to comply with ring fencing of retail and investment operations should be threatened with forcible separation.
According to the Reuters report, Bailey stated that this was required to ensure that banks do not try to circumvent laws made to protect the taxpayer. He added that banks had a tendency to find innovative methods to avoid meeting regulatory requirements, and that they would also find ways to 'tunnel under' ring fencing requirements.
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|Publication:||Global Banking News (GBN)|
|Date:||Nov 20, 2012|
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