UK Vows Bank Structure Reforms By 2015

Law360, New York (December 19, 2011, 6:26 PM ET) -- The British government plans to pass laws by 2015 forcing banks to separate investment and consumer businesses, giving full backing to recommendations issued by the Independent Commission on Banking, the U.K. treasury announced Monday.

The new legislation will fundamentally reform the structure of banking in the UK by establishing a ring fence of sorts around operations targeted at individual consumers and small businesses, following the recommendations set out in a Sep. 12 plan by the ICB, a group set up last year by Prime Minister David...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers