UK To Give Regulators Power To Break Up Banks

Law360, New York (February 4, 2013, 12:32 PM EST) -- British regulators will have the power to split up the retail and investment units of a bank when a financial institution is on the verge of failure, a step beyond earlier reform proposals to insulate retail consumers from risky trading activities, U.K. Chancellor of the Exchequer George Osborne said Monday.

Osborne said in a speech at a U.K. JPMorgan Chase & Co. office that the government was introducing legislation Monday that would give regulators the power to split up banks when the investment unit fails, a...
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