UK Commission Wants Retail, Investment Banking Split Up

Law360, New York (September 12, 2011, 2:55 PM EDT) -- U.K. banks will be required to fence off their retail operations from investment banking units if Parliament adopts recommendations in a report issued Monday aimed at lessening the future risk of taxpayer-funded bailouts.

The U.K. Independent Commission on Banking, a group set up last year by Prime Minister David Cameron's coalition government, said the country's banks should be required to establish a “ring-fence” around operations targeted at individual consumers and small and medium-sized businesses. The commission also said U.K. banks should be required to hold up...
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