Vickers lends support to ring-fence ‘electrification’
The author of the report recommending a ‘ring-fence' to separate banks' retail businesses from more risky activities today (16 January) backed a proposal to break up banks that don't respect the new rules.
John Vickers, who chaired the UK's Independent Commission on Banking (ICB), told the Parliamentary Commission on Banking Standards he welcomed anything that reinforces the ring-fence, including the commission's proposals for "electrification" - where the financial regulator is equipped with a
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