UK ringfencing opposition lingers

Author: Tom Young | Published: 28 Sep 2015

The UK’s regulators have published two sets of consultations on ringfencing transfer schemes, adding further detail to post-crisis plans to separate retail and investment arms of the country’s banks.

But some counsel insist that regulatory initiatives in the US and Europe introduced since the Vickers report have made the plans untenable.

Under reforms first proposed four years ago by Sir John Vickers, which have become the UK’s main regulatory response to the financial crisis, banks with more than £25 billion ($37.9 billion) of deposits must hive off their consumer-facing business from riskier investment banking activities.

The proposals themselves have been questioned in recent months, as UK policy views on bank regulation has softened.

Since the initial Vickers Report, regulatory initiatives elsewhere have altered the landscape for...



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