In-house counsel sitting in financial institutions across the City could not be blamed for thinking that trying to make sense of the banking reform agenda at the moment is like trying to solve the Rubik's Cube in the dark. With competing priorities at local, national and supranational levels, it could scarcely be harder for those at the vanguard of delivering transformational change to get to grips with a raft of new regulation. And yet, get to grips with it they must. In January the European Commission proposed a set of banking regulations that will be of global systemic importance. The proposals would mean that national regulators could force the EU's largest and most complex banks to separate certain 'risky' trading activities from their core deposit-taking functions in the event of a threat to financial stability.
March 10, 2014 at 11:33 AM
1 minute read
The original version of this story was published on Legalweek
Ring-fencing banks will throw up numerous challenges for in-house teams and may mean existing panel relationships become redundant
In-house counsel sitting in financial institutions across the City could not be blamed for thinking that trying to make sense of the banking reform agenda at the moment is like trying to solve the Rubik’s Cube in the dark.
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