A ‘quirky’ attempt at bank reform may be abandoned, but Alex Novarese finds the regulatory war will go on
Given the political charge it had built up, it was inevitable that media reaction to the final report from the Independent Commission on Banking (ICB) would be framed as a win or loss for the banks. Even on that basis, it was a tricky call – the final proposals issued last month proving a little tougher in terms than expected, but with a longer-than-predicted timeframe for implementation of 2019. And on reflection it becomes clear that this awkwardly British process totally defies easy categorisation.
