In November, the FSA is introducing BCOBS, an element of a new regime that will bring to an end the popular self-regulation of the retail banking business
Despite much industry support for the current voluntary regime of regulation of retail banking business, the days of self-regulation under the Banking Codes are numbered. On 1 November, 2009, the Financial Services Authority (FSA) will implement the new Banking and Payment Services Conduct Regime including a new Banking Conduct of Business Sourcebook (BCOBS). So what, in practise, does BCOBS mean for the future of UK retail banking?
