Ramping Up For 'Ring-Fencing'

Law360, New York (February 21, 2012, 1:27 PM EST) -- In September 2011, the U.K.'s Independent Commission on Banking (ICB) released its final report on proposed reforms of the U.K. banking system (the Vickers Report).[1] Central to the many recommendations contained in the Vickers Report is the proposal that U.K. retail banking operations be "ring-fenced" in a separate subsidiary within the broader banking organization.

The primary purposes of the ring-fence proposals are to insulate retail banking services (and associated deposits) from higher-risk activities, such as investment banking or trading businesses, performed elsewhere in the banking organization;...
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