Independent Panel on Ring-fencing and Proprietary Trading- Final Report
On behalf of the Independent Panel on Ring-fencing and Proprietary Trading, HM Treasury has laid the final report before Parliament.
Documents
Details
The ring-fencing regime was introduced in the aftermath of the 2008 financial crisis, following recommendations from the Independent Commission on Banking in 2011, to strengthen the resilience of the UK banking sector. The regime, which came into force in January 2019, separates core retail banking services from investment banking activities, with the aim of protecting depositors from risks arising elsewhere in the banks and in the financial system.
The Treasury appointed an independent panel[1] - firstly to review the operation of the legislation related to ring-fencing; and secondly review banks’ proprietary trading activities following a statutory report from the Prudential Regulation Authority published in September 2020[2]. Given the inherent links between the structure of the banking sector and proprietary trading activities, the Treasury appointed a single panel to conduct both reviews.
On behalf of the Independent Panel on Ring-fencing and Proprietary Trading, HM Treasury has laid the final report before Parliament.
Footnotes
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[1] As set out in the Financial Services (Banking Reform) Act, 2013. Check the terms of reference for the Panel’s appointment.