FSA copies Volcker with trading book proposals

Author: Danielle Myles | Published: 6 Sep 2010

Lord Turner’s agenda to limit proprietary trading by banks has worked its way into the Financial Services Authority’s (FSA) proposed reforms to the trading book regime, say regulatory lawyers.

The report states that it does not address the separation of banks’ trading and other activities. But some believe the FSA chairman’s supposedly paternalistic approach and desire to make changes similar to the US’s Volcker rule, is apparent throughout.