EU Lawmakers Want Banks' Trading Split From Deposits

Law360, New York (July 3, 2013, 2:52 PM EDT) -- The European Parliament on Wednesday called for a strict separation of banks' risky trading activities from their core deposit-taking business and for boards to be held accountable for bank failures as part of a broader plan to make the financial system safer.

The nonlegislative resolution adopted by the European Parliament in a 528-87 vote with 73 abstentions is meant to serve as an "input" to the European Commission as it rewrites the rules for the financial system. The EC Is set to deliver its proposals in...
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