Lawyers raise concerns over impact of Vickers' banking reform proposals
City lawyers have reacted critically to the Vickers report's proposals for reform of the UK banking sector, highlighting the potentially damaging impact on the City's status as a global banking hub. Key proposals contained within the interim report from the Independent Commission on Banking (ICB) include the suggestion that UK banks should ring-fence their retail divisions from their investment banking arms and that there should be increased capital requirements for "systemically important banks".
City lawyers have reacted critically to the Vickers report’s proposals for reform of the UK banking sector, highlighting the potentially damaging impact on the City’s status as a global banking hub.
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