UK Parliament Wants Bank Ring-Fence 'Electrified'

Law360, New York (December 21, 2012, 5:12 PM EST) -- A U.K. parliamentary committee said Friday that regulators should have the power to split up banks if they violate the so-called ring-fence meant to separate a bank's commercial and investment banking units, saying the fence should be “electrified.”

In light of the still-burgeoning scandal over rigging of the London Interbank Offer Rate, the Parliamentary Commission on Banking Standards said the current proposal for putting a wall between a banks' operations was not strong enough to withstand intense lobbying from banks or clear enough to keep two...
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